Announcement: TKNT Buyback and Burn

TKNT announced a token buyback program after its’ first listing on Aug 26th, 2020. TKNT plans to repurchase 15% of TKN.COM’s house edge profit every month from September 2020 and burn repurchased token to reduce the market supply. The buyback will be done via the foundation’s FOBLGATE exchange account and the burning will be done via the foundation’s BKEX exchange account due to the withdrawal limit per transaction.

The Board of Directors decided that it was necessary to convey the company’s message to the market that it is highly committed to boosting the low-valued token price. As disclosed, the purpose is to stabilize the token price and enhance the token holder's value. “We are proudly announcing that our Buyback and Burning policy will create more value in the TKNT eco-system.

And we believe transparency is the most important value that we can provide to our TKNT holders and TKN users. — Benjamin, CEO of TKNT Foundation [October Token Buyback & Burn Report] 1. From 10th Oct 2020, TKNT will implement Burning for the Buy-backed token of September, 398,182 TKTN at the average purchasing price of 1,093 KRW to the account of “burning.eth (0xe2cC58c045dc8172F8c0221091e575CFCF8374e2), a blackhole account. 2. Buyback of 15% of the fee of tkn.com Dapp platform of September will be used to buy back TKNT from the market and will be sent to a black-hole address to burn. Buyback period of October will be held between 21st to 28th of October. TKNT will operate the current buyback and burning policy every month until cooperation ends with TKN.COM.

Best,

TKNT Foundation