To support the value of DENA, the key token of DeNations, we are announcing DENA buyback policy. We may use up to 10% of Ether collected through our Nation Ownership sales to buy back DENA in the exchange (including DENA pairs in the Uniswap), when we think DENA is underpriced.
Summary
- Buyback Budget
up to 10% of quarterly Nation Ownership sales (directly sold by DeNations) sold in Ether may be used as a quarterly buyback budget for the next quarter.
ex) If accumulated Ether sales of 2021 1Q (January ~ March)sold by DeNations was 100 Ether, then DeNations may use up to 10 ETH as buyback budget of 2021 2Q (April ~ June). - Buyback execution condition
when the market price of DENA is lower than 20% of the minimum utility value of DENA - Buyback execution timing
Buyback execution may happen at arbitrary times at our discretion without prior notice to prevent abusing activity of arbitrage players. Buyback frequency may be also arbitrary.
