The popular cryptocurrency lender – Nexo – has announced a buyback program for its native token worth $100 million. The company estimates that the entire process will be completed within the next six months.
Nexo’s $100M Buyback Program
The press release shared with CryptoPotato informed that the company’s Board of Directors had approved the program, authorizing it to “discretionally repurchase” the native token Nexo in the open market periodically. The procedure has already begun and, “depending on prevailing market conditions,” should be completed by Q2 2022.
Depending on how this buyback program goes, the Nexo Board of Directors will contemplate another one based on the results.
Nexo aims to use the repurchased tokens for “investments in strategic targets via token mergers with applicable vesting schemes to ensure token holder interests.” It will also utilize portions of the coins to “make daily interest payouts to clients who opt to receive their yields in NEX
We współpracy z: https://cryptopotato.com/crypto-lender-nexo-announces-100m-buyback-program-for-nexo-tokens/
