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BullPerks Conducted The BLP Token Burn and Buyback Events

Good news for all BLP token holders! To support token price stability and value, BullPerks conducted BLP token burn and buyback events.

What is a token-burning event?

For those unfamiliar with this concept, a token burn is an act of sending cryptocurrency tokens to a wallet that has no access key. Without the private key, these tokens cannot be accessed by anyone and are lost forever. It essentially eliminates them from the available supply, therefore raising their scarcity and value.

Proof of Burn

What is a buyback?

Fulfilling our commitment in the whitepaper, we use a portion of profits to buy back BLPs. It will limit the circulating token supply, potentially increasing its overall value. This event is also conducted to reduce the price volatility and increase liquidity. The lower supply tends to stabilize the prices in the long term. Token-burning and buyback approaches serve the same purpose, but their mechanisms are different.

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Constantin Kogan

Dad, entrepreneur, angel investor, meta-connector. Researching and contributing to the sharing and value economies 🚀