The Virtuals team has announced a significant step in their commitment to token sustainability. Since October 16th, 2024, the team has accrued an impressive 12,990,427.85 $VIRTUAL from post-bonding trading revenue. This will be allocated toward a 30-day TWAP (time-weighted average price) buyback-and-burn of various agent tokens, including $GLUTEU.
Key Highlights:
The buyback-and-burn initiative will span 30 days, reducing the circulating supply of $GLUTEU and other agent tokens.
Over $30 million will be allocated by the Virtuals team for purchasing $GLUTEU and other agent tokens.
A detailed breakdown of the buyback amount for each token can be accessed via the Virtuals dashboard.
This strategic move underscores the team's long-term vision for value creation and aligns with the broader mission of bolstering token stability across the ecosystem.
Stay tuned for updates as the buyback-and-burn progresses.
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