Announcement regarding the first buyback and burn of MojitoSwap

Hi Mojos,

According to the initial design of MojitoSwap’s tokenomic, there are plans to buy back MJT with transaction fees and burn it based on a proportion.

We want to share that we have completed the very first buyback of MojitoSwap with transaction fees yesterday. At of the time of the buyback, the cumulative transaction volume of MojitoSwap was $237,951,503. Part of the transaction fee generated was used as a reward for LP holders, and the remaining transaction fee was $275,635.5.

Therefore, MojitoSwap’s first buyback amount was $275,635.5, and we bought back 91,878.5 MJT in total. The average price of MJT at the time of buyback was around 3 USDT.

Of the 91,878.5 MJT bought back this time, 1/3 (about 30,626MJT) is moved to the treasury; 2/3 (about 61252.5MJT) will be burned within 3 business days. We will notify the community of the burning progress with announcements.

This is the first time that MojitoSwap does buy back to burn. At the same time, we also have many community millstones need to achieve. When we achieve these goals together as a community, we will complete more burns. Please stay tuned.

We are very pleased to see that MojitoSwap has achieved excellent results since the launch of Bar and Wine Pools last month. TVL exceeded 40M+ at the highest point. The launch of Shaker has brought MojitoSwap’s transaction volume to a new level. All this would not happen without the support of KCC community and all you Mojos. It also gives us the confidence to continue to be the biggest DEX on the KCC.

Win in Defi, Play with Mojito!

MojitoSwap

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Win in DeFi,Cheers with Mojito.

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