Announcement on DREP Foundation Buyback & Lock Program 2020 Q1
Dear DREP Community,
We had completed the Buyback & Lock Program scheduled for 2020 Q1 as of 31st March. Through this program, DREP Foundation had acquired a total of 158,705,180 DREP tokens from the open market. They will be transferred to a permanent lock up address visible to the public, and this batch of repurchased DREP tokens will no longer be in secondary market circulation. As a result of the buyback program, the market circulation has been reduced by 7.12%.
The lock-up address for the buyback program: 0x03AE3C6c9dc23923944A1268e75b69cC8A72352a
Lock-up Txid: 0x11881c34782fe5d3659b200070c4f6e6376128c978c21bcceb87b30cc7964f64
DREP will also launch more of such buyback programs at different stages of ecology and application development. In the future, more consumption, lock-up and burn scenarios will be launched to achieve the long-term and healthy development of DREP Token economics.
Thanks for all DREP community members’ attention and support!
10th April 2020
About DREP Foundation
DREP is committed to building “connectors” and “toolkits” based on blockchain technology, providing solutions that combine ease of use, flexibility and frictionless integration. Based on DREP Chain, DREP ID and DREP SDK, DApp R&D teams are able to release multi-public-chain asset versions, built-in wallets and asset trading platforms with one-click.