InPoker launches buyback and burn program, burns over 16.5M INP tokens
We are pleased to announce that on January 12th we have successfully conducted the first buyback and burn exercise for our native INP token with a total of 16,566,692 INP burned tokens.
InPoker will begin discretionally and periodically repurchasing and burning half of received profit as well as at times and prices we consider appropriate. Profit from staking activity in our Cashier facility and tournament fees will аlso be reinvested directly into the buyback.
In our first buyback and burn program, InPoker bought back and burned 3,545,859 INP. Additional budgets may be allocated for future buybacks in accordance with company growth. Due to the delay in DeFi protocol launch, we have also burned 4,687,500 tokens which were unlocked from ecosystem mining allocation after the recent HODL festival, as well as undistributed 8,333,333 airdrop tokens.
In order to ensure full transparency, the transactions can be viewed at:
Conducting a buyback and burn exercise is an effective way to control a volatile cryptocurrency market. Other than ensuring price stability, it will push for tokens to have a continuous price growth pattern, which will attract more interest in the crypto space and will lead to steady growth in the token’s ecosystem.
Additionally, we would like to remind about the recent changes in our tokenomics:
- 45% Ecosystem mining is now locked for 8 years, changed from 4 years
- Game reserve locked for 6 years, changed from 4 years
This tokenomic update will reduce the large amount of tokens released every month. This results in more stability for the future of InPoker. We are a long-term project and we believe this change was necessary to make the project more healthy. Our focus is on the continued sustainability and our loyal holders will be rewarded by our strong campaigns.
Stay tuned for more exciting developments on inpoker.app
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