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

by Nik Asti

Published: November 01, 2023 at 5:07 am Updated: November 01, 2023 at 5:08 am

by Victor Dey

Edited and fact-checked:
November 01, 2023 at 5:07 am

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.

Exciting News!

MOBOX is unveiling a transformative upgrade to NEW Buyback & Burn Program. With strategic multi-platform integration, dynamic allocation & unparalleled transparency, we’re redefining the future of $MBOX soon

full info: https://t.co/4tBWfI1BmL #Web3Gaming

— MOBOX (@MOBOX_Official) November 1, 2023

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.

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.

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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.

Nik Asti