Grvt Completes First Buyback, Burning 1.1 Million GRVT Tokens
Photo: TokenPost
Grvt’s token issuer completed its first buyback and burn, removing 1.1 million GRVT tokens from supply as the trading platform prepares new yield and derivatives features through November. The tokens represented 0.96% of circulating supply and 0.11% of total supply. The two percentages measure the burn against the circulating portion and the full supply, respectively. The purchase used part of the app’s gross profit. The issuer intends to continue buying tokens in monthly rounds, although the Foundation retains discretion over each round’s size and timing. That leaves future purchases without a set amount or execution date.
Source: TokenPost
