The Community Voting for the Extended Buyback Scheme on HBTC has ended at 12:00, 1 March 2021 (UTC+8). The proposal for “an Extended Buyback Scheme” won with a 91% approval rating.
Voting Link: https://www.hbtc.co/activity/vote2/?id=7
HBTC will execute the Extended Buyback Scheme at a repurchase price of 4.021 USDT on 3 March 2021 (UTC+8).
In addition, HBTC will conduct a backbuy of HBC tokens from its secondary market. 20% of the HBC obtained from this buyback will be airdropped to all HBTC Captains. All HBCs in the reward account will be unlocked according to Captain’s daily performance.
Extended Buyback Scheme:
1: HBTC will conduct an extended buyback scheme for all uncirculated HBC airdrops from HBTC Captains at the price of 4.021 USDT per token. An estimated cost of 2 million USDT will be spent in this extended buyback scheme.
2: HBTC will use 100% of its business income from the HBTC Exchange and Bluehelix Technology generated from the launch of Token Model 2.0 to the end of this voting (Feb. 9-28 (UTC+8)) for HBC buyback-to-burn. 20% of the repurchased HBC will be distributed into the Captain’s reward account (which 15% will be distributed according to the performance of this captain from Feb. 9 to Feb. 28 (UTC+8), and the rest 5% will be shared by all qualified Captains). The HBC in the reward account will be unlocked according to Captain’s daily performance. HBTC will use the income generated from the trading fee in quarter one 2021. This arrangement will affect the upcoming HBC buyback-to-burn and reward in Token Model 2.0.
About the destruction of the HBC tokens obtained from this Buyback-to-Burn:
1: All uncirculated HBC from this buyback has been recorded in the buyback-to-burn data for later destruction;
2: The Community Voting for the Extended Buyback Scheme on HBTC has ended, and all business income from the HBTC Exchange and Bluehelix Technology generated from the launch of Token Model 2.0 to the end of this voting (Feb. 9-28 (UTC+8)) were used for HBC buyback-to-burn, which 80% of HBC tokens obtained from buyback has been recorded in the buyback-to-burn data.
All HBC airdrops will no longer be visible on “Balance”. This information will be categorized under “Captain” to avoid any misunderstanding.
HBTC reserves the final interpretation and execution right for this token model.