Ubex Conducts Buyback And Token Burn
The Ubex project has conducted its Buyback and token burn process as per the roadmap and project plans.
The Buyback feature entails that every quarter, the project will use 20% of its profits from transaction commissions to buy back UBEX Tokens and destroy them, until 50% of all UBEX Tokens are repurchased.
The amount of UBEX Tokens repurchased was 3,499,619.189 tokens. The tokens were repurchased on all the official exchanges. The period of conducting the transactions was January 22 to 29, 2020. Tokens were burned on January 30, 2020.
After the buyback, the total supply of UBEX Tokens is 3,996,500,380.811 tokens.
The link to the burning address is the following:
The next buyback of UBEX Tokens is planned for April of 2020. More details will be announced in the near future. Stay tuned for more news and updates from Ubex.
According to CoinMarketCap, over the course of the month during which the burning took place from December 29 to January 29, the price of UBEX Tokens changed from $0.000280 to $0.000578.