As per our commitments in the January 13 announcement of the ELA Buyback Program to Support DPoS 2.0, the Elastos Foundation will provide progress updates on a monthly basis. Throughout July, 2022, the ELA Buyback Program proceeded as follows:
1) In July of 2022, 12,464 ELA were purchased on the open market. In the process of completing the purchases, the Elastos Foundation used 20,000 USDT, and retained 192,652 USDC and 10 BTC for future purchases.
Amount of purchased ELA: 12,464
As of July 31st, 2022, the cumulative ELA purchased for the ELA Buyback Program totals 909,838.
2) ELA Wallet address:
The following rights are reserved for the discretion of Elastos Foundation:
1. When one of the following conditions is met, the Buyback Program will be terminated:
- The buyback period expires;
- The quantity of purchased ELA reaches 1 million ELA;
Unforeseeable Events (including but not limited to relevant national policies and legal adjustments, asset-related reasons, etc.).
2. Disclaimer of Rights Reserved:
The ELA Buyback Program represents an effort by the Elastos Foundation to promote a smooth transition to DPoS 2.0 consensus, and it does not constitute a mandatory obligation. The ELA Buyback Program may not be fully implemented due to various unforeseeable factors, and may be terminated at any time. In all cases, the Elastos Foundation will provide information disclosure in a timely manner.
*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.