Today we bought back 6,008,357,290 DCN tokens on HitBTC*. The main prerequisites were the following:
1) The short-notice delisting from Folgory exchange (more about the delisting here and here) did not allow the withdrawal of all DCN held on the platform. Therefore, we have no proof of what has happened to this remaining amount.
2) As HitBTC was also the platform used by the Cryptopia hacker to sell the main share of their stolen Dentacoin tokens and has been creating artificial sell pressure ever since, it was estimated that this buyback action would be most useful there. As a reminder, last year another buyback was made for the same purpose.
To further compensate for the above aspects, the total amount of the bought Dentacoin tokens will be verifiably burnt (a proof link will be published here when the transaction is processed).
[UPDATE] Proof of coin burn:
[UPDATE: May 25th, 2020] Throughout the last seven days we bought back another 3,800,357,290 DCN back from HitBTC. The amount is burned in full. Proof of coin burn link: https://etherscan.io/tx/0xf19b07d60291ae991ab4c86d94bc0bff6a0592d415337398cd74c60185e9e5ec
Now the Dentacoin tokens ever burnt amount to 100,151,034,322 DCN or 547,956.35 USD as of this moment (2:25 pm on May 25th, 2020):
We cannot explain, nor can we identify with certainty the persons behind dubious activities that have come from the outside. We can only manage our own actions and reactions, always targeted to the sole goal of ensuring Dentacoin’s sustainable success. A huge thank you to the ones who trust in the process!
Please be assured that our team is doing everything possible to help the market reflect the true development of Dentacoin, while never losing sight of the long-term goals. We have no doubts that Dentacoin will be a crucial part of the future of dentistry. And it makes us truly happy that more and more people believe in this mission as well.
Thank you for your trust and support!
P.S. To catch up with frequently asked questions like when price up, when new exchange, when coin burn, and many more, check out the latest Q&A session with Dentacoin Founders and Team:
Q&A with Dentacoin Founders and Team: May 2020 - Official Dentacoin (DCN) Blog | Dentacoin…
We have always been eager to keep you up to date with everything happening at Dentacoin. Now - on top of our daily…
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* The possibility of buyback has been described in Dentacoin Whitepaper, p.15.
Originally published at Official Dentacoin (DCN) Blog | Dentacoin Foundation.