SunPump, a platform within the SUN ecosystem, has announced a buyback and burn project for its SUN token. The project aims to decrease the token supply and increase the value of the SUN token. SunPump will utilize its revenue to repurchase and burn SUN tokens. This is not the first time the team has conducted such an endeavor, with previous phases resulting in the repurchase and burning of SUN coins. The latest phase saw 161,015,070.16 SUN coins being removed from the supply using SunPump's revenue. This strategy helps manage token inflation and create scarcity, potentially leading to a positive effect on the token's price over time. It aligns with the project's wider goals of sustainable growth and maintaining a growing consumer base.
- Content Editor ( blockchainreporter.net )
- 2024-09-08
SunPump Starts Buyback & Burn of 161M SUN with Its Revenue