PONS founder: The buyback and burn has been automated, and the new mechanism will claim funds every 7 days.

BlockBeats news, October 3: PONS founder Ozzy (@MEADGod) responded to community users' questions regarding the buyback and burn mechanism, and apologized for previous misunderstandings in communication.

Previously, user yyy posted questions about PONS's buyback mechanism, including whether funds in the escrow account need to be manually transferred to the buyback distributor, funds not entering the buyback distributor for more than 5 days, the current buyback and burn rate being about $120,000 per day, and whether the previously promised automatic escrow fund claiming feature has been implemented.

Ozzy responded that some of the questions are indeed valid, that the buyback and burn rate has not yet been adjusted, and that the "claim" step had also not been fully decentralized before. He said the team is upgrading the contract, and the new buyback mechanism is designed to execute a fund claim every 7 days, then use the claimed funds for buyback and burn over the following 7 days, repeating continuously.

Currently, all buyback and burn operations have been automated, and anyone can trigger the bot to execute the relevant operations and receive a small reward. The main thing that needs adjustment now is the buyback and burn rate. Previously, the buyback rate was set at 2e per hour. Combined with about 950,000 in funds in the Splitter and the 7-day cycle arrangement, this rate can match the current fund size. At the same time, fund claims will also be executed automatically every 7 days. In the future, buyback funds will be displayed in two sections: the Active Buyback Vault currently executing buybacks, and the buyback funds reserved for the next cycle.

Ozzy said he thanks community users for their feedback and once again apologized for previously responding without fully understanding the issue. Community user yyy subsequently accepted the apology and said that a more decentralized and automated claim and buyback burn mechanism is an important foundation for building community trust.