Crypto Piece Buyback in Jan 2022

Token buyback-and-burn has finally arrived in town to ensure a healthy bellynomics. Here is everything you need to know about this much-desired community program.

Having considered for a while, we are pleased to announce the first @CryptoPiece Token buyback & burn program will kick off at 1PM UTC Jan 12nd, 2022.

The situation

On Jan 10th, during the time we were upgrading the Research Center function on-site, a user had exploited the delay between server and database (in milliseconds) to place multiple withdrawal orders. It caused the server to send over the exact same amount of $Belly to the same wallet address multiple times. Soon after committing fraud, that user immediately sold out a large sum of $Belly on the market, which led to the price dumping later on.

In response to the above issue as well as to prevent the same problem from occurring in future, the Dev team has:

• Locked the Create Order function to ensure that multiple withdrawals can not be processed at the same time.
• Discreetly looked into newly created requests to eliminate duplicate orders that came from the same wallet address.
• Established a reward scanning bot to check up on the originality and authenticity of a reward claiming order.

Buyback n Burn mechanism

Having analyzed the market condition and consulted our strategic partners, we decide to carry out a Buyback-and-burn program. In addition to supporting $Belly long-term price stability and value growth, this aims to further protect the benefits of our investors and $Belly holders. From now on, the repurchasing will take place at times and prices we consider appropriate.

Allocated sum:

The allocated amount for $Belly token buyback is a record of 30,000 USDT.

Timing:

The program is set to begin on Jan 12nd at 1 PM UTC and it is expected to be completed on Jan 22nd.

After this period, or when the allocated sum of $30,000 USDT is reached, the founding team will review its impact and decide on a potential new buyback scheme.

Transparency:

The $Belly tokens purchased will be stored at the following wallet: 0x1200ff49Cb93EFEC983e9cD431795441cBc35Ad4

Token burn:

All tokens purchased will be burnt right after the completion of this buyback program.

As a response to our community’s feedback and to further improve our transparency, we will also be posting updates on the program on Crypto Piece official communication channels.

Telegram Group | t.me/cryptopiece_official
Telegram Channel | t.me/CryptoPiece_Ann
Twitter | twitter.com/CryptoPieceNFT