First quarterly buyback of 500 Ethereum complete!
Tenset applies the concept of quarter buybacks to make the token more attractive to hold. We bought a huge 762,000 10set tokens off the market, which have now been permanently burned! This is a fantastic achievement considering this is the first buyback and only five months since the 10set public launch.
Going forward, you can expect much bigger and better buybacks as our ETF 2.0 portfolio continues to grow and generate profits.
10set buyback can benefit the holders in several ways:
- Support the growth and stability of the value of the token
- Token becomes more attractive to investors
- The buyback also results in surged liquidity
- Buyback incentivizes long-term growth. Investors are motivated to HODL long-term the 10set token
We also plan to develop our buyback process by automating specific procedures to improve efficiency and ultimately purchase more tokens to burn! In the long term, the buyback mechanism will be practiced in a more aggressive way. More details on these improvements will be shared
You can track the purchases and subsequent transfer to the burn contract at the following address on etherscan:
What is Tenset buyback program?
A buyback program is a planned mechanism by which a company uses its financial resources to re-acquire a portion of its tokens. This process is reducing the volume of tokens outstanding on the open market.
According to Tenset mission, the buyback program goal is to increase the growth potential and stability of the 10set token by boosting liquidity, reducing price volatility, and contributing to price appreciation. This gives 10set token holders additional security that the 10set token value will continue in up direction.