BullPerks
Published in

BullPerks

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.

About BullPerks

--

--

The fairest and most community dedicated decentralized VC and multi-chain launchpad

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Constantin Kogan

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