Since the VeChainThor Mainnet Launch, VeChain Ecosystem has enjoyed substantial growth and made remarkable achievements in terms of pushing ahead the mass commercial adoption of blockchain technology. To facilitate the process and further uphold VeChain’s vision of creating valuable transactions, the VeChain Foundation recently announced a VET buyback plan worth up to $25 million. The first phase of the buyback, which amounts to no less than $5 million on the open market, will be implemented over the next quarter, starting in July 2019.
The Foundation introduced the buyback strategy as part of our broader efforts to further support community building and promote the development of the VeChain Ecosystem. In addition to its funds, the Foundation will set aside a portion of its revenue to support the plan.