Zebec announces ZBCN token buyback plan

BlockBeats news, on September 28, Solana Ecosystem Stream Payment Protocol Zebec announced the 2024 ZBCN token repurchase plan. The repurchase will be carried out at the end of each month, and the repurchase parameters are: partner integration and Zebec card transaction volume.

The monthly repurchase is linked to the transaction volume and partner contract of the Zebec card, based on the following indicators:

Partner Contribution: For partner projects that pay Zebec through their tokens to integrate into the Zebec card, an equal amount of ZBCN will be purchased from the open market. This ensures community participation and a continued reduction in the circulating supply.

Card Transaction Volume: As the card program grows, ZBCN equivalent to the total monthly consumption of Zebec cards will be burned, with a maximum cap of $500,000.

The Zip-7 proposal regarding the buyback program and its parameters is currently being negotiated, considered, and formally voted on in the Zebec DAO, and is expected to be launched as early as October 2024.