Nearly one month ago we introduced the latest upgrade to the Tenset buyback system regarding the automatic buyback tool on Kanga Exchange.
This tool has been automatically purchasing 10set on the exchange at regular intervals every day. We are delighted to reveal that it has accumulated approximately 160,000 10set during this time which has now been sent to the Black Hole and permanently burned!
This is a fantastic achievement for less than a month since implementing the mechanism! These buybacks have been funded purely from the rewards in the KNG POS pool on Kanga Exchange, so demonstrates the power of Tenset’s investment in Kanga and the future income it can generate for us and our buybacks as the exchange develops and grows in the future. The burning will continue on Kanga!
Now imagine the additional buybacks Tenset can do with the remainder of the ETF 2.0 portfolio. Buyback procedures will take place outside of Kanga too, on both the Ethereum and Binance networks. The rapid growth in the value of our portfolio will help Tenset fund much larger buybacks going forward as we further automate our buyback system to implement a constant burning pressure and deflation across all fronts!
As always you can view the transaction for the burn: