SW DAO Announces Preemptive Fifth Token Buy & Burn
2,738 tokens burned with 985,358 to go 🔥
“We bought and burned tokens preemptively this month as we believe demand for SWD will increase in the latter part of December into January. We hope that doing this event earlier in the month has allowed the treasury to burn a greater number of tokens at today’s lower valuation compared to doing so at the end of December. We still look forward to seeing what the end-of-month burn will also entail.”
SW DAO aggregates all revenue generated from StackedInvest subscriptions typically at the end of every month. These aggregated fees are then used for a token buy and burn event typically on the first of the following month. SWD tokens are burned on the Ethereum blockchain and are always publicly verifiable.
The team at SW DAO has pre-emptively anticipated December’s StackedInvest fees and bought and burned a portion of them in advance. Once the SW DAO team knows the exact sum of fees generated for December they will buy and burn the rest.
December Preemptive Buy & Burn by the Numbers
- 2738 SWD tokens burned out of a maximum circulating supply of 988,096 for the month of December.
- 2738 tokens burned represents 0.277% of the maximum supply over the past month and 1.46% since the program’s initiation.
- This program has reduced the maximum supply from 1,000,000 tokens to 985,358 since inception.
Buy Transactions: https://etherscan.io/tx/0x994fe806c3c45d7bd910c909eee586b5786d3265a70951607d73d8a297bd315a
https://etherscan.io/tx/0xb08eefbb3fdee96639fa613e9613bebf9aa3dfb3169725baf79550b79b27fc5c
Burn Transaction: https://etherscan.io/tx/0x28a5c3a8d2b7b2aa193cb870da553b2701b935ef03e7debe106d1f18123c51d2
What is a Token Buy & Burn?
A buy and burn event occurs when a project buys its own native token off the public market. The tokens they purchase are then “burned” meaning they are sent to Ethereum’s “Black Hole” address of 0x0000 where they are rendered permanently unusable. This event reduces the maximum number of tokens in circulation — creating regular positive price pressure and increasing its scarcity.
You can verify all five buy and burn events here:
Get Involved
- Join the community on Discord by clicking here
- Follow us on Twitter to get the latest news
- Check out our website
