Poolz Finance community has approved the buyback program proposal, a significant step towards increasing synergies and utility between the platform and the Poolz Finance token. The proposal aimed to provide more value to POOLX holders, increase demand for the token, support the growth of the Poolz Finance ecosystem, and enhance the liquidity of POOLX.
The POOLX tokens acquired through the buyback program will be obtained from the DEX (Pancakeswap) and securely transferred to a dedicated wallet where they will be permanently locked away. The Poolz Finance platform will use 2-4% of its revenue to buy back POOLX from the market, reducing the total circulating supply of POOLX.
For example; if Poolz Finance raises $400k for Carbon browser during its IDO on our platform, our team will repurchase $16k worth of POOLX and the token will be transferred to the locking wallet.
Please note that the company reserves the right to stop or change the percentage of the buyback at any time through the DAO voting mechanism. Additionally, the total buyback amount will be adjusted according to the refund amount, if any.
We are excited to introduce this program and provide enhanced value to our esteemed users. If you have any inquiries or feedback, please do not hesitate to contact the Poolz Finance team.
Buyback wallet: 0xe0C458e5491a1AF8768b0f9Dc62A621B5407Fb4E
Proposal result: https://tinyurl.com/3ys6nfre
We express our sincere gratitude for your unwavering support.
Best regards, The Poolz Team.
