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Y5 Crypto Launches Buyback and Burn Program

·2 min read

London, United Kingdom--(Newsfile Corp. - September 5, 2022) - Y5 Crypto launched their Wealth Token in early 2022, with tokenomics inscribed into its underlying smart contract. The tokenomics have been structured with the primary intention of providing value to token holders in a variety of ways, in particular the BUSD reflections (13% of buy and sell transactions) and the Buyback & Burn funds (4% of buy and sell transactions). Firstly, the BUSD reflections are distributed by the smart contract automatically; a process that does not require human input. Whereas the use of the Buyback & Burn wallet is to be strategically implemented by the Core Team, which allows for timing to be optimized in harmony with the rollout of the ecosystem, general economic conditions and the wider cryptocurrency markets.

Over the past months, the contract has accumulated over 2,800 BNB for Buyback & Burns. These tokens cannot be removed from the contract and can only be used for the sole purpose of Buyback & Burns, which provides great confidence regarding the security of the funds to both current and potential holders. Y5 Crypto elected to commence the Buyback and Burn program on the 1st September 2022 to the delight of the tokenomics community. Since inception, the Core Team have burnt 1,254 BNB with 1,642 BNB remaining (approximately 60% of the supply on commencement of the Buyback & Burn program). The burns that have been executed to date have resulted in a price increase in excess of 250% in a matter of days.

Perhaps the most enticing concept for new holders is the potential for the Buyback & Burn wallet to be replenished with new funds, based on future transactional volume. Furthermore, Y5 Crypto have developed an entire ecosystem, whereby a percentage of profits are passed directly back into the Wealth Token in the form Buyback & Burns. The utilities that have already been released include a Centralized Exchange (with a native low tax token) and a Decentralized Exchange, both of which are being consistently developed in terms of both user interface and new features (including but not limited to fiat on / off ramping, a token screener and a trading algorithm builder). Moreover, the team are also in the process of developing a number of new utilities, such as their own blockchain, a round-up app and debit cards issued to holders.

Brad Askew, the Founder of Y5 Crypto, commented on the program with the following quote, "The commencement of the program has been extremely successful, and it has been a pleasure sharing value with our loyal holders. However, the best part is that we are nowhere near completion and plenty of benefit remains for both current and new holders."

Media Contact:
Name: Brad Askew
Email: support@y-5.finance

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/135971