We’re excited to share the latest progress in our ongoing quarterly $OORT token buyback and burn initiative.
As part of our commitment to long-term growth and value creation, we allocate up to 30% of our profit for repurchasing $OORT tokens on the open market. These tokens are then permanently removed from circulation by sending them to a blackhole address. This approach is designed to benefit our token holders and enhance the overall health of the token ecosystem.
The Q4 buyback and burn has now been successfully completed. During this period, the OORT Foundation has burned a total of 1.2 million $OORT tokens. This represents approximately 0.06% of the total 2 billion token supply and about 0.39% of the current circulating supply.
Details of the Q4 Burn:
All buybacks were conducted through Gate.io.
Throughout 2024, the OORT Foundation has successfully completed four token burns, totaling 9.076 million $OORT tokens. This represents approximately 0.45% of the total 2 billion token supply and around 2.92% of the current circulating supply.
The OORT Foundation remains committed to its token buyback and burn strategy as part of our long-term vision for the project. We will continue to take steps that foster a sustainable and valuable environment for all of our stakeholders, strengthening the token ecosystem and delivering long-term benefits for our community.
Stay tuned for future updates as we continue our efforts to ensure the continued growth and success of $OORT.
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Official statement from OORT addressing false allegations by Titan Capital, clarifying token distribution facts, and outlining legal action taken in response.
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