Bitsdaq buyback and burns over 24 million BQQQ

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ACCESS Newswire

Mon, Sep 23, 2019, 10:10 PM

SINGAPORE / ACCESSWIRE / September 25, 2019 / Bitsdaq Exchange recently announced the first buyback and burn of the platform token - BQQQ on September 20, 2019. The total number of BQQQ burnt is 24,652,643 BQQQ announced on the official website. Bitsdaq will continue to buyback and burn BQQQ in accordance with the market development, and continue to make BQQQ the most deflationary platform token.

The token buyback-and-burn can be verified through the blockchain explorer to ensure transparency.

Burn address: 0x258446f3e7c8a699c8fda58161a30fc35e5fb9d2

Ricky Ng, founder and CEO of Bitsdaq, said that the first buyback and burn was significant and that buyback and burn of BQQQ not only accelerates the growth of the Bitsdaq market but also provides users with better liquidity:

He says, "We are trying to reduce the circulating supply of BQQQ to create a deflationary economy. This will attract more users to participate in the BQQQ ecosystem and bring out the real value of BQQQ. One of the goals of BQQQ is to help the development of great projects. BQQQ is required for project teams that would want to have their IEO on Bitsdaq. The buyback and burn of BQQQ is significant for the whole ecosystem.

According to Bitsdaq's white paper, the total supply of BQQQ is 1 billion, of which 17.8% are issued to ordinary supporters and are circulating on the market. The mid-term goal is to make BQQQ trading pairs available for Bitsdaq's investment and blockchain start-up projects traded on Bitsdaq.

Since the official launch of BQQQ this Junpast e, there are several efforts to increase the adoption of BQQQ, including trading fee discounts for token holders, consensus decision-making, investment and other aspects of that help build the ecosystem. Recently, BQQQ is officially listed on CoinPlanet and started a new operating model of mining. At the same time BQQQ "compound interest plan" was launched.

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