GoPlus Completes $GPS Buyback and Burns Over 177 Million Tokens Worth $3.06 Million
The post GoPlus Completes $GPS Buyback and Burns Over 177 Million Tokens Worth $3.06 Million appeared on BitcoinEthereumNews.com.
The GoPlus ecosystem is reaching an important milestone. The project has carried out a large-scale token burn to buy back tokens and remove them from circulation. The GoPlus team says that on April 15, they burned 177,158,631.6129889 GPS tokens, which was worth about $3.06 million USD at the time of the announcement. The earlier assurance made by the team this year of repurchasing and retiring $GPS tokens as part of a strategy to decrease the supply of tokens and raise their value was successfully fulfilled with this latest token burn. The on-chain legitimateness of the transaction can be verified; details of which are accessible and comprehensible to the public. Therefore, this is a step (albeit a small one) in the right (actionably transparent) direction for the value of $GPS tokens to its holders. GoPlus Buyback Milestone Reached The GoPlus team previously promised a total repurchase of $4.34 million USDT, across multiple transactions. From March 19 to April 14, the project executed seven separate withdrawals from Binance, for a total of $4.04 million USD, getting the promise nearly fulfilled. The funds in question were used to methodically acquire GPS tokens from the open market. $GPS BURN ANNOUNCEMENT We’ve just burned:– 177,158,631.6129889 $GPS– Currently worth $3.06 M USD All $GPS acquired through the Buyback Program has been transparently transferred to a black hole address for permanent removal from circulation. The community can monitor this… pic.twitter.com/jda9iP4Ahv — GoPlus Security (@GoPlusSecurity) April 15, 2025 When the buyback phase was done, all of the tokens that had been bought back were sent to a black hole address we designated, at which point they were effectively burned and taken out of circulation for good. The specific transaction in which these tokens were burned can be seen by anyone through a blockchain explorer. If you really want,…
Filed under: News - @ April 16, 2025 7:19 am