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Blog|News|Coinmooner Team Have Decided to Do Buybacks
Published November 15, 2022|2 min read

Coinmooner Team Have Decided to Do Buybacks

What Does a Buyback Mean in the Crypto World, and Why it is a Good Thing

To increase the demand for a cryptocurrency and drive its price, a strategy known as "crypto buyback" might be used to reduce the available supply of that particular cryptocurrency. To use a stock market analogy, it's the equivalent of the corporation purchasing back shares from individual investors. Companies also repurchase shares to maintain a monopoly on corporate governance and prevent minority shareholders from gaining influence. If a cryptocurrency token is repurchased, the number of tokens in circulation is reduced, but the supply is not eliminated. Tokens are only sometimes destroyed after a buyback. In other words, the objective of a crypto repurchase is to restore the market value of depreciated assets.

Why We Decided to Make the Buybacks

We are treating the $MOONER token and website as two separate entities. We implemented a use case of our token that introduced various discounts by paying for ads partially via $MOONER. However, after a thorough and lengthy discussion with the team internally, we now understand that we should instead ensure that the token grows with the website's success. Because of that, we have decided to do the buybacks.

Dedication and transparency are what we value at CoinMooner - and we want everyone who is involved in this project to grow alongside us, our project, and everything that we believe.

The Most Important Question is - How will it be Done?

The buybacks will occur bi-weekly on the 1st and 15th of each month. The buyback amount will strictly depend on our revenue. We have dedicated 3-6% of our revenue to this cause. Generating more revenue would benefit the growth of $MOONER, which would mean higher-value buybacks for the token.

We will share all transactions in our telegram as well as our discord.

Thank you so much to everyone who is still with us. More development, more news, and more stuff are coming for everyone who has been supporting us. We thank everyone from the bottom of our hearts.

Stay Tuned

Regards

CoinMooner Team