Announcement on the Completion of Phase One (2019.05–2019.08) of the $20 Million TRX Buy-Back Plan
Dear TRON users,
In July 2019, TRON Foundation announced the $20 Million TRX Buy-Back Plan.
We have completed the first phase of 2019 as set out in the buy-back plan. With the rapid growth of the TRON ecosystem in this quarter, the successive release of projects including BTFS, BLive, BT Speed, and SUN Network, the launch of super DApp WINk on Binance, this phase of buy-back has far exceeded market expectations in both volume and capital scale. Currently, this phase has been concluded and we will announce the detailed information to all TRON community members as follows:
The buy-back amount: 723,118,860TRX
The buy-back value: $20 Million
The buy-back duration: 2019.05–2019.08
The buy-back platform: Binance, Huobi and other mainstream platforms
For this phase, the average buy-back price for May and June was 0.037USDT/TRX and the average buy-back price for July was 0.025USDT/TRX. The overall average buy-back price was 0.02765USDT/TRX. The current TRX price is 0.01561USDT/TRX (September 4, 2019).
A partial record of the buy-back can be found in the following links:
Transaction record spreadsheet:
Transaction record screenshots:
TRON Foundation will announce the next phase of the TRX buy-back plan in due time based on the development of the TRON ecosystem.
About the $20 Million TRX Buy-Back Plan
1. Why are we buying back TRX?
- Sufficient reserve funding at TRON Foundation.
- To show strong confidence in the TRON Foundation and TRON’s ecosystem development.
- Based on the feedback of the community, currently, TRX is significantly undervalued.
2. How much is the buy-back worth?
- The total buy-back amount is worth $20 Million.
3. What are the features of the buy-back plan?
- Large scale: the total buy-back amount is worth $20 Million
- Wide coverage: TRX has now been listed by over 150 exchanges in more than 100 countries and regions
- Long duration: starting from June 2019
4. What are the impacts of the buy-back plan?
- Boost community activeness
- Maintain market stability
- Increase user confidence
- Reduce TRX circulation in the market