1st Buyback & Burn
Results from the first month of the oVCX revenue flywheel
Published in
Feb 6, 2024
As stated in [VIP-34] Revenue to be used for VCX buybacks & burns, the Buyback and Burn implementation supports VaultCraft’s long-term vision of creating a robust and valuable token ecosystem. This approach is believed to increase stakeholder confidence, fostering a more vibrant community around the VCX token.
Highlights from the Buyback & Burn
- 33.81 ETH (tx link) in VaultCraft revenue used to buyback 2,570,750 VCX
- 0.3% of the total supply, a $124,549.81 equivalent, has been burned
- 0.85% of total minted has been burned
- VCX in 80/20 BAL pool increased to $1,059,409
- WETH in 80/20 BAL pool increased to $267,400
- Total VCX burned is now 7,321,210 (Etherscan)
