Markets News Report
November 01, 2023

MOBOX Upgrades Buyback and Burn Program to Revitalize Project’s Momentum

In Brief

MOBOX revealed significant revisions to its buyback and burn initiative, in response to blockchain gaming evolution.

In response to the dynamic nature of blockchain gaming, MOBOX is introducing significant changes to its buyback and burn program.

Since its foundation, MOBOX had implemented an “auto buyback and burn” mechanism. This led to the burn of 46,925,433 $MBOX Tokens. However, recent evaluations indicate that this mechanism doesn’t fully align with the company’s evolving strategies and aims.

MOBOX Program Modifications

One of the key shifts is MOBOX’s decision to diversify its platform usage. The updated program will operate across both Binance (CEX) and PancakeSwap (DEX). This adaptation seeks to accommodate the shifting demands of the market and enhance the stability of their asset’s intrinsic value.

Additionally, MOBOX’s allocation strategy for buyback funds will undergo changes. Funds will be allocated based on liquidity depth on both platforms, typically leaning towards a 6:1 ratio favoring Binance.

In terms of transparency, MOBOX has committed to several measures. The company will display the real-time balance of buyback funds on both Binance and on-chain, making this information accessible via their official website. They also plan to establish a real-time API connection with Binance and will periodically, every six months, release a detailed statement concerning the balance on Binance.

Community Engagement

While announcing these changes, MOBOX has underscored its appreciation for the unwavering support of its community. They express that the revisions in the buyback and burn program align with their dedication to adapt to the ever-evolving realm of blockchain gaming.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master's degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.

More articles
Nik Asti
Nik Asti

Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master's degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.

The DOGE Frenzy: Analysing Dogecoin’s (DOGE) Recent Surge in Value

The cryptocurrency industry is rapidly expanding, and meme coins are preparing for a significant upswing. Dogecoin (DOGE), ...

Know More

The Evolution of AI-Generated Content in the Metaverse

The emergence of generative AI content is one of the most fascinating developments inside the virtual environment ...

Know More
Join Our Innovative Tech Community
Read More
Read more
Othentic Raises $4M Funding From Breyer Capital To Advance Development Of Modular Networks In Shared Security Environment
Business News Report Technology
Othentic Raises $4M Funding From Breyer Capital To Advance Development Of Modular Networks In Shared Security Environment
April 22, 2024
Celo Developer cLabs Proposes Launch Of Its Ethereum Layer 2 Solution On Optimism’s OP Stack
News Report Technology
Celo Developer cLabs Proposes Launch Of Its Ethereum Layer 2 Solution On Optimism’s OP Stack
April 22, 2024
ICON Integrates Its Cross-Chain DEX Balanced With Injective, Announces Regular INJ Token Purchases
Business News Report Technology
ICON Integrates Its Cross-Chain DEX Balanced With Injective, Announces Regular INJ Token Purchases
April 22, 2024
Exponential Bitcoin Bull Market Is Yet To Commence, Notes Crypto Analyst Willy Woo
Markets News Report Technology
Exponential Bitcoin Bull Market Is Yet To Commence, Notes Crypto Analyst Willy Woo
April 22, 2024