Orbit Chain
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Orbit Chain

1st ORC Buyback and Burn!

We are happy to announce that the ORC Buyback & Burn Program has started!

The Orbit Team started the Buyback & Burn Program on July 30, 2021, and in this first round, 2,062,280.048054399543084952 ORC Tokens were bought back at market price on KLAYswap and sent to the burn address.

Here are the transactions used for the ORC buyback & burn.

Buyback Transactions on the Klaytn Network

  1. XRP: https://scope.klaytn.com/tx/0xd9d56066482d1ca8cead38e9299d47d7228e2933a8076ed8a4965bce1795a2f9?tabId=tokenTransfer
  2. DAI: https://scope.klaytn.com/tx/0x98b42aa83e1f975e56015269752bb90aa4b287040e48070b43226c06607eaf22?tabId=tokenTransfer
  3. ETH: https://scope.klaytn.com/tx/0x9a94dcc147746efc61e3fbc7d5e9f52560060e714fa96a523629b65c370bd35f?tabId=tokenTransfer
  4. USDT: https://scope.klaytn.com/tx/0x1eaf8d5feda2b83e873b8591dcebcad477218b2a24fd152441efdc0fc71d86d7?tabId=tokenTransfer
  5. WBTC: https://scope.klaytn.com/tx/0x0b81415600f16830069575250877cbb8ebfac66bbb5bfb7d3b7a1e609848b643?tabId=tokenTransfer
  6. BNB: https://scope.klaytn.com/tx/0x5402d7ea90967e57bc315d2174aed76f800087cdb1e4b1eaff46904d4a705a10?tabId=tokenTransfer
  7. BELT: https://scope.klaytn.com/tx/0xe8f6858b9759c32f0981160e7e04320331afc3544968a3479d233d9a5b8c81da?tabId=tokenTransfer
  8. AUTO: https://scope.klaytn.com/tx/0x2a26f22dba281f0785556b2f7c78e31e21dcb8799aa52f5df90370f51d75ad05?tabId=tokenTransfer
  9. TRIX: https://scope.klaytn.com/tx/0x1649ac6402fc671d3b0e32e90db15435ad4d318f5436c92e539595ee25bd3fe7?tabId=tokenTransfer

ORC Burn Transaction on the Ethereum Network

  1. https://etherscan.io/tx/0x4cf9f8c4e62b054bf3ed8fa0103d71baf97c840724c85c78888a6985864cf9cb

The first successful buyback & burn program is a very meaningful starting point in strengthening the ORC token economy. In the future, we expect that the value added from the Bridge will increase and the more it melts into the Orbit ecosystem, the more solid Orbit’s token economy will become.

The role of our decentralized bridge is becoming more important in the fragmented blockchain world and in DeFi ecosystems that require continuous liquidity. We will work with the larger blockchain world to become a major catalyst of promoting and bringing liquidity for all decentralized finance ecosystems, and we look forward to drawing the future that Orbit is creating with you ORC supporters.

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