As we promised in the Whitepaper, the b-cube.ai team is announcing our first BCUBE token buyback and burn event. On the 31st of July 2021, the team will buy 10 000 USDT worth of BCUBE tokens from the open market and then take them out of circulation forever. For the buyback, the team will be using part of the revenues earned from purchases of BCUBE products.
The purchased BCUBE tokens will be held in a publicly verifiable address that will be announced upon the buyback and burn completion.
This event is the beginning of our burning program in which a percentage of the income collected for payment of the services and products on our platform will be burned. The burning program will last until 2024. We will eventually burn 25 000 000 BCUBE tokens which are 50% of the total supply.
The buyback and burning program was put in place to reduce the circulating supply and maximize the value of the BCUBE token in the coming years.
Besides, 100% of the payment received directly in BCUBE tokens for the purchase of our bots & services will be burnt until August 2021.