On September 1, 2020, at exactly 15:00 Moscow time, we held our first-ever KickToken buyback on the KickEX exchange. Thank you to all users for participating — and we hope that you enjoyed the fair buyback mechanic and managed to get your well-deserved slice of the profits.
We initially stated that all results will be as transparent as possible. Keeping true to this promise, we present a summary of the main points of the past buyback.
Key facts of the KickToken buyback
A total of 1408 users from 93 countries took part in the buyback.
The top ten countries by participation were:
During the buyback, 2172 limit orders were executed.
A total of 704,687,262 KICK tokens were redeemed for a total of 100,000 USDT.
704,687,262 KickTokens were redeemed for a total amount of 100,000 USDT.
A detailed list of all participants in the buyback with usernames, the number of placed, and bought back tokens can be viewed on the official website of the KICK buyback.
This buyback was the first in a series of KICK token buybacks to be carried out on the KickEX exchange and was specifically implemented for a small amount, as this was an experimental buyback of tokens and a test of the mechanism. Each time the buyback mechanics will change, improve, and target different audiences: holders of a small volume of tokens, “whales” of the KICK token and newcomers. Each new buyback will be more interesting, technologically advanced and better than the previous one.
All redeemed tokens in the buyback were withdrawn from circulation: frozen and burned.
KickTokens freeze transaction:
Initially, we planned not to burn the tokens so that there would be no negative impact on the KICK capitalization and it would not fall in the ratings, but we assumed the possibility that later these tokens would be burned when their liquidation did not affect the positioning in the ratings. Many users supported the burning initiative, therefore, following the first buyback, the KickEX team decided to burn these tokens.
KickTokens burn transaction:
There are more burns to come in the future if we see that this one had a positive effect on the KICK rate.
The number of liquid and frozen KickTokens can be tracked on this source: https://cmc.kickex.com/kicktokeninfo