2nd ORC Buyback & Burn!
To update you about the progress of our Buyback & Burn program, we’ve just completed our 2nd ORC Buyback & Burn!
The second Buyback & Burn program began on November 15, 2021 and ended on November 30th. A total of 5,549,543 ORC tokens were purchased and the corresponding amount of tokens were transferred to an obsolete wallet address (burned).
ORC token buybacks by date and burn transaction records can be checked through the links below:
ORC Burn Transaction on the Ethereum Network
https://etherscan.io/tx/0xa32483686f9ae8f4950785dd03cc65e00746d2815b9c5d8c81c5c40dd52ba067
Buyback Transactions on the Klaytn Network
2,062,280 ORC tokens (worth about $2 million at the time of writing), equivalent to 50% of the Bridge Tax collected by Orbit Bridge, were burned in the first Buyback & Burn. However, in the second Buyback & Burn, the burn ratio of Bridge tax was changed from the 50% to 100%, and the remaining 50% not burned in the first Buyback & Burn was burned in the second Burn.
Consequently, the Buyback & Burn program will continue to increase the scarcity of ORC tokens to further strengthen the positive flow of our token economy along with the value added by Orbit Farm.
Thank you
[Official sites & communities]
- Orbit Bridge: https://bridge.orbitchain.io
- KLAYswap: https://klayswap.com
- KLAYstation: https://klaystation.io
- Orbit Chain : https://orbitchain.io
- Orbit Chain Global Telegram: https://t.me/OrbitChainGlobal
- Orbit Chain Twitter: https://twitter.com/Orbit_Chain
- Orbit Chain Discord: https://discordapp.com/invite/PJzE63A
