We’re happy to share some key updates from the OORT Foundation, including the contract details for the lockup of 800 million $OORT tokens and our Q3 2024 token buyback and burn.
On September 16, 2024, we locked 800 million $OORT tokens—representing 40% of the total supply—in a smart contract for five years. This lockup ensures sustainable mining rewards and reinforces our focus on decentralized growth.
You can also view the locked tokens here: https://mainnet-scan.oortech.com/address/0x1F9F424dbE5012c900cC238d31889A1eCdC51B27.
For more details on our tokenomics updates, including the latest information on mining rewards and team token releases, visit our detailed update here.
In Q3 2024, we bought back 4.626 million $OORT tokens worth $620,000 USDT, with an average purchase price of $0.134. Here’s the breakdown:
All repurchased tokens have been burned to reduce the circulating supply. You can see the burn transaction here: https://mainnet-scan.oortech.com/tx/0x8997eb73bf890b4910126259dda6c755cb9a205b6f66fa687098edf69c82f18d.
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