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Notices|2 MIN. READ

ELA Buyback Program to Support DPoS 2.0 is Complete

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In order to support the Elastos DPoS 2.0 upgrade, the Elastos Foundation (hereinafter referred to as the “Foundation”) issued the  statement titled “Elastos Foundation Announces ELA Buyback Program to Support DPoS 2.0 Upgrade, Pending CR Approvalon December 31, 2021. As per the statement, upon the passing of CR Proposal #74 on January 13, 2022, the Foundation issued the “The ELA Buyback Plan to support the upcoming DPoS 2.0” (hereinafter referred to as “the Buyback Plan”).

As of August 31, 2022, the Buyback Plan has been completed, and the results are as follows:

1. Results:

1. According to the Buyback Plan, the Foundation will purchase ELA from the open market on a monthly basis beginning January 13, 2022. As of August 31, 2022, the Foundation has purchased 1,000,000 ELA and spent 89.87 BTC accordingly.

2. According to the Buyback Plan, the Foundation will announce the progress update of the current month in the month following, including details regarding the assets spent, the amount of ELA purchased in the current month, and the cumulative amount of ELA purchased.

3. The purchased ELA is stored at the address specified in the Buyback Plan: 8c4wRGdK7wtAaUc9Uy1QtuMd34aKZtYVNe

2. According to the Buyback Plan released on January 13, 2022, the number of purchased ELA reached 1 million. As such, the Buyback Plan has been completed as planned.

3. The purchased ELA will be used to support nodes in the early stages of DPoS 2.0 once the consensus goes live. The specific DPoS 2.0 node support plan will be released in due course.

*This statement only reflects the current views of the Elastos Foundation regarding the upgrade of Elastos’ DPoS consensus and a corresponding action plan that facilitates a smooth transition to a new DPoS consensus mechanism. None of the above should be regarded as professional financial investment advice, nor should it be used to evaluate or make any investment decisions.

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