Service fees buyback details

Protocol
1

Greetings Qredo team members,

We would like to thank you on all efforts that you have done to secure the network & deliver utility to the tocken. the community has witnessed many deliveries which we all believe going to help on long term to build sustainable model to push tocken value to higher levels.

Back to some significant events, we have voted on Qredo tokenology almost 45 days ago. the tokenology has many information regarding how the network should work.
For example, we have two types of fees.

  1. protocol fees which is used for burning as 2x of transactions.
  2. service fees which will be used to buyback tockens with minimum of 30% of fees.

the tockenology agrees that buybacks will help to reduce supply tockens from circulating and that will increase the tocken value due to reducing circulating supply. However, until today, the ecosystem fund still shows that it has only 390m tockens yet which were allocated from second billion and that means it DIDN’T start buying tockens from market.

so, we are asking, when will you start buyback the tockens from circulating from service fees?
and if you already started, why does not that reflect on ecosystem fund at qrdo.info ?

thank you

2 Likes
2

can we see reply about these details from the team?

3

Thank you for raising this is a great point. Would also love to know how this will work in the future. Will the buy back be manual by Qredo ltd or will it be an API or smart contract that will be published for public to review. The greater the transparency the better

2 Likes
4

still looking to see an answer from the team and reaction from the community

5

it looks the team can’t answer such significant questions.

that does not sound good

6

They ignore questions they don’t like