Cubdefi starts buy back and burning mechanism
Hello lovely people of Hive community. Hopefully you will be enjoying life with good health and spirit. Cub has observed massive dip sinche its launching. Cub has almost observed 99.5% dip from its all time high worth of $4.73.
source
Despite launching amazing features like Binance based Hive (Bhive) and Binance based HBD (BHBD) Cub unable to maintain its worth. At the time of writing, Cub is trading around $0.021. Cub is far below in worth according to its potential. Now, Leofinance has made a good move to introduce buyback and burning mechanism.
In this regard, 7,089 CUB has been burned. Cub DAO has made a plan to burn 200 K Cub this month. Cub badly need such initiative. Indeed it will help to strengthen Cub worth.
What is your opinion my friends? Do you believe that buyback and burning mechanism will help to strengthen Cubdefi platform?
This is it for my today post. Wish you all a very happy, healthy and prosperous life ahead. Have a nice time.
Posted Using LeoFinance Beta
If Leo thinks that taking some of the token from circulation will increase it worth, then is perfectly ok
Offcourse.
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Cubdefi is looking good now. There's so many features out, it should increase the price !
Hi
Burning of tokens works for some projects however it is a matter of numbers.
The big question for this to be effective is the emission of new tokens in comparison to the burn and the net result it has on the rate at which the supply is increasing or decreasing.
with the instability in price dynamics and enigma of numerous sort of tokens circulating in the market , blockchain based businesses have begun to employ these two techniques to limit emissions and drive prices .