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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.
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.
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 profit 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.
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
Please follow ONLY our official accounts and double-check URLs before engaging
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OAPA proposes slashing Deimos I renewal fees from 60 USDT to 10 USDT to scale decentralized AI storage, contingent on a 6M $OORT community vote and a 1-year token lock-up.
This update marks a major milestone in decentralized AI with the release of IoT Whitepaper, a new edge computing architecture that bridges physical devices with the global data economy while offering high-value earning tasks on DataHub.
