Token Buyback Program
In early 2019, the IOST Foundation announced the launch of its official Token Buyback Program. The Program’s objectives are to (i) provide market support and price confidence and (ii) grow the store of IOST held by the Foundation, which can be circulated back into the ecosystem to encourage the long-term development of the mainnet.
Through these token buyback exercises, the IOST Foundation also hope to further strengthen the hearts and minds of our team and community, and embolden investors’ confidence in IOST.
For Q3 2019, the Foundation is pleased to announced that we have completed a token buyback amount of 50 million IOST.
The buyback address for this round of buyback is shown as follows: 7ii2sj6zp43.
Going forward, the IOST Foundation will continue its Token Buyback Program at its discretion, with the key objectives of providing market support and contributing to ecosystem growth and development.
Magnifying Value Creation For The IOST Ecosystem
Alongside the Foundation Lockup Program, the Token Buyback Program is expected to:
- Reduce the supply of IOST available in both public and private markets,
- Bring excess capital and fund inflows into the IOST ecosystem,
- Provide market support on investor confidence and valuations, and
- Compound the growth effects of increased token utility following our mainnet + Dapp launches.
We expect the Token Buyback Program and Foundation Lockup Program to substantially magnify value creation for the IOST community.
Note: Any future token buybacks and announcements will be done at the discretion of the Foundation to avoid front running by trading funds and are subject to Foundation’s projections of market conditions.