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May 23, 2024

We're excited to share the latest progress in our ongoing efforts to enhance the OORT token value and ecosystem. We just completed our second quarterly token buyback and burn, demonstrating our commitment to creating a sustainable and valuable environment for all our stakeholders.

Token Burn Milestone

Since our token listing, the OORT Foundation has burned a total of 3.25M $OORT tokens. This represents approximately 0.16% of the 2 billion total token supply and about 2.5% of the current circulating supply. This strategic move significantly boosts the value and sustainability of our ecosystem.

Q2 Buyback Highlights

Enhancing Token Value

The OORT Foundation is taking decisive steps to enhance its ecosystem’s value and sustainability through a comprehensive strategy including token buybacks, burns, and efficient gas fee management. As part of our commitment to value, we bought back $462,000 worth of $OORT and burned 2,150,000 tokens acquired from Q1 2024 revenue.

Our buyback strategy involves using up to 30% of our revenue to repurchase tokens on the open market. These tokens are then sent to a blackhole address, removed from circulation. This approach supports long-term growth and benefits our token holders.

Recap of Q1 2024 Buyback

Stay tuned for regular updates as we continue to strengthen the OORT ecosystem. We're also thrilled to introduce our new product, OORT DataHub, a community-driven data generation platform. OORT DataHub encourages users to contribute and pre-process data in a decentralized way for AI applications, making the AI development process more transparent and addressing key issues like biased results and data privacy.

Join DataHub now or learn more about it: https://www.oortech.com/datahub

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