Orbiter Finance launches token buyback program…100 million OBT burn completed
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- Orbiter Finance announced that it has started a token buyback and burn program.
- They said the buyback burned 100 million OBT, equivalent to 0.825% of the total supply and 1% of the circulating supply.
- Orbiter Finance said it plans to continue ongoing token buybacks and burns for the next three months.
- The article was summarized using an artificial intelligence-based language model.
- Due to the nature of the technology, key content in the text may be excluded or different from the facts.
Ethereum (ETH)-based cross-chain bridge project Orbiter Finance (OBT) announced on the 15th that it has officially started a token buyback (repurchase) and burn program.
As part of the program, Orbiter Finance bought back 82.5 million OBT from strategic investors' holdings. This represents 0.825% of the total OBT supply and 60% of the allocation to strategic investors.
Additionally, last month it conducted additional token purchases using protocol revenue and investment returns from World Liberty Financial (WLFI). The tokens burned through this buyback approach nearly 100 million OBT, equal to 1% of the total circulating supply. Burn-related information can be verified through blockchain transaction records.
Additional token buybacks were also announced. An Orbiter Finance representative said, "We plan to carry out continuous token buybacks and burns over the next three months."
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