PANews reported on July 1 that the communication platform Towns Protocol announced that it has generated more than $2.1 million in fees since its launch. Most of the fees will be used to strategically repurchase and destroy $TOWNS tokens to establish a sustainable feedback mechanism between usage and token demand. $TOWNS will serve as the foundation of the protocol to support its long-term development.

Earlier news said that the communication platform Towns Protocol completed an additional financing of US$3.3 million, led by Coinbase Ventures and others .