IOST Foundation Embarks on Token Buyback Program With Excess Company Profits
Today, on 2nd April 2019, to further cement the trust between the IOST Foundation and our community, IOST officially announces our Token Buyback Program, in addition to our Foundation Lockup Program.
Token Buyback Program
Off the back of strong profits arising from IOST-related businesses (B2B project collaborations and profits from incubated projects) in 2019, which substantially exceeded internal company estimates, IOST plans to channel these excess funds towards executing Token Buyback Exercises across 2019 and 2020*. Through these token buyback exercises, the IOST Foundation hope to further strengthen the hearts and minds of our team and community, and also embolden investors’ confidence in IOST.
Foundation Lockup Program
The Token Buyback Program is underpinned by the IOST Foundation Lockup Program. Foundation ecosystem tokens (except for partner node rewards, developer rewards, rewards used for marketing) will continue to be locked up throughout the year 2019.
Magnifying Value Creation For The IOST Ecosystem
Together, the Token Buyback Program and Foundation Lockup Program are expected to:
- Reduce the supply of IOST available in both public and private markets,
- Bring excess capital and fund inflows into the IOST ecosystem 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.
Post-Mainnet — IOST Enters Hockey Stick Growth Trajectory
IOST is now officially the big 4 public chains alongside Ethereum, EOS and Tron, and is also the fastest growing blockchain network within the Big 4.
Underpinned by IOST’s unique Proof-of-Believability consensus mechanism, IOST is also the first ever scalable AND decentralized public chain solution, which differentiates us significantly from DPoS projects in the market.
The growth of IOST had been fast and furious since its mainnet launch. In just over a month, as of 1 April 2019, IOST has grown rapidly and are hitting multiple major growth milestones:
- Launched close to 10 Dapps, with Endless.Dice breaking into Top 3 Dapps globally,
- Supported by over 200 Nodes,
- On-boarded over 100,000 Accounts,
- Recorded over 20,000,000 on-chain transactions,
- Sealed multiple enterprise partnerships, to be announced.
As $IOST utility enters a hockey-stick growth trajectory, the timely launch of our Token Buyback Program and Foundation Lockup Program are expected to drive significant value accretion for our community.
To Our Community — Build the Ecosystem Together With Us!
IOST’s ecosystem cannot be built without the support and trust from our community. The well being of our community has always been our top priority, and we have been listening to the suggestions and feedback from our community. Our tokens are locked up in a public wallet to show our determination and confidence in committing ourselves to technological development and ecosystem growth.
IOST continues to stay laser focused on our vision to bring blockchain to the mass public. With the ambition of on-boarding 100 million users in 2019, we hope our community will join us in achieving this vision by sharing about IOST with your personal networks, share about IOST on social media and enrich the IOST ecosystem alongside the Foundation.
The launch of our mainnet merely marks the beginning of a grand new chapter in the development of IOST. We are just getting started!
* Token buybacks 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.