Plair Announces Up to 2.4 Billion PLA Buyback Program to Prefund Reward Reserve Pool
As a community-driven start-up, Plair endeavors to provide a better gaming experience and reward community members for their contribution to the Plair ecosystem. While our development team continues to #buidl, Plair Foundation has crafted an efficient marketing strategy to attract users. As part of Plair Foundation’s long term strategy, we are initiating a PLA Buyback Program for up to 2.4 billion PLA, to prefund a reward reserve pool. This reserve pool will be used as a reward incentive to further support the growth of the platform.
The total buyback amount, with a minimum of 1 Billion and up to 2.4 Billion PLA, will be acquired on OceanEx over the upcoming 12 months and will be moved directly into our reserve pool: 0x486d2Caa38641c2eB4b294b9FDd7610442c6Fe0E
We will conduct a buyback from the market starting from December 2019, with a maximum buying price of 0.03 PLA/VET. The purpose of the program is to create value for the community, support long-term development and boost our ambitious marketing plans.
Marketing campaigns are prepared and ready while the comprehensive platform is being built. We are working full speed to fix technical issues and target to deliver a gaming platform with DIY tournaments handled through smart contracts by the end of this year. The prefund reserve pool will boost our marketing initiatives as we release upcoming versions of the PLAIR.GG platform. Plair will host various sponsored platform-based challenges and invite celebrities & professional players on the Plair platform. The aim is to draw more valuable users and build a stronger blockchain-based eSports ecosystem & community.
Building is always a challenge for start-ups. We target to be the first blockchain-based platform combining eSport Gaming & Streaming, tackling a USD7bn total addressable market while owning 100% of the source code. In order to build a solid foundation, we are prioritizing critical technical bug fixes over rolling out new features. Regarding Streaming, we have just finalized a Proof of Concept demo. We also plan to allocate much more development resources on Streaming to expand PLA use-cases which will be rolled out in 2020.
Once the platform is well-established, the reserve pool will be put into action. On top of that, Plair is going to launch a Membership Program for users to get special benefits based on PLA holding and activities on the platform. This program will reward loyal fans and attract more quality users onboard. We will disclose all information about the membership program levels and requirements at a later stage.
Summary of Buyback Program Below:
- Purpose:
(a) Create value for the community
(b) Support long-term development
(c) Boost Plair’s ambitious marketing strategy - Repurchase Amount: Up to 2.4bn PLA, 1bn minimum
- Maximum Price: 0.03 PLA/VET
- Exchange Platform: OceanEx (VeChain ecosystem)
- Duration: 12 months (From Dec 2019)
- In order to provide transparency and real-time insights, the acquired PLA from the buyback program will be located at this VeChain Thor address: 0x486d2Caa38641c2eB4b294b9FDd7610442c6Fe0E
We will update the community regularly throughout the buyback process and will announce details of the Membership Program in 2020.
