7th ORC Buyback & Burn Completed!

OrbitChain
Orbit Chain
Published in
2 min readApr 18, 2023

We’ve just completed our 7th ORC Buyback & Burn!

The Buyback & Burn program began on April 10th, 2023 and ended on April 14th, 2023. In this round, the total number of ORC bought back and burned is 2,122,051.915842066 ORC, which has been transferred to the burning address.

You can check ORC token buybacks by date and burn transaction records through the links below:

ORC Burn Transaction on Ethereum Network:

https://etherscan.io/tx/0xab84b03f92137e82f02929f392073a714526a34631786499cb7df79796befcb3#eventlog

ORC Buyback Transaction on Klaytn Network(April 10th — April 14th, 2023):

https://scope.klaytn.com/account/0xDCa348Df7DCE32Ae02C0F1C252ae8b75d6928180?tabId=tokenBalance

The ORC Buyback & Burn Program can lid on inflation and regulates circulation on the Orbit Chain network by buying back and burning ORC tokens with resources secured on Orbit Bridge and Orbit Farm.

This 7th buyback & burn program utilizes 100% of the layer fee received from the Orbit Bridge and all the profits of the Orbit Farm operating on the Ethereum and BNB networks as the source of the buyback & burn.

we will not only increase the scarcity of ORC tokens, but also strive to build a sustainable Orbit Chain ecosystem environment.

Thank you.

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