Automatic buyback program activation

The automatic buyback program on Kanga Exchange has been activated! 100% of the rewards earned by Tenset’s KNG on the POS system are now being used for buyback and burns!

The automation of this procedure greatly improves the efficiency of our buybacks by allowing for a constant flow of purchases and avoiding a sharp rise and then fall in the price. These buybacks will take place on the 10SET/KNG trading pair on Kanga Exchange.

Purchases will be made every 60 seconds by our automated buyback tool on the 10set pair. The tool will take a randomised amount of KNG for each purchase. Initially, the buyback program balance has been loaded with 10,000 KNG! This balance will be replenished each day with the rewards received from the KNG POS system. As you can imagine, the 2,100,000 KNG that Tenset has staked is earning a substantial amount of rewards!

The 10set that is bought on Kanga will be permanently burned! We will send the balance to the burn address once or twice a month, and share the transaction ID so that holders can verify this! Transparency is of major importance to us so want to make the process visible to all investors.

We are delighted to implement this great improvement to the Tenset buyback program. We are confident that the KNG POS will provide significant revenue to boost our buybacks. However, don’t forget that the buybacks on Kanga Exchange are just one of the tools at our disposal for the Buyback program. We will also be conducting buybacks on the Ethereum network as well as Binance Smart Chain!

We want to burn as much 10set as possible. The rapid growth of the ETF 2.0 portfolio will allow us to ramp up our burning process and ultimately speed up the deflation in the Tenset ecosystem as we strive towards the final supply of 2.1 million tokens!

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