The Soon Foundation has launched a $ 200K token redeemation program, which offers guaranteed buybacks at $ 0.14 per token – One interest is aimed at restoring investment after an initial joyful market manipulation.
Summary
- Soon Foundation offered a $ 200,000 token Reddemption program, with a guaranteed bayback at $ 0.14 per token.
- The program is funded by protocol-borne revenue and will expand as more revenue flows.
- The initiative follows the 41% price accident on 5 July, which is caused by coordinated sales and shorting uniform exchanges.
The Soon Foundation has officially launched its Soon Token Redeemation Program, with a $ 200,000 liquidity pool to guarantee buyback at a fixed price of $ 0.14 per token.
Accessible through redeemption.soo.network, the buyback portal provides a guarantee of livelihood for holders looking at an forecast rate. For soon to official statement, the redeemation is completely funded by protocol-borne revenue, and will grow over time as sooner the finished products will have more revenue flow.
“The redeemation program serves as a stable buffer during the market period,” the Sun Foundation. Explained confidence in the ecosystem. ,
Whatsback triggers buyback
The initiative stems from a disastrous 41% decline in the price soon on 5 July, when token planted token Plumating $ 0.22 to $ 0.13 hours waiting for coordinated sales.
On-chain analysis has shown that 22 million soon tokens were withdrawn from the bittgate and dumped on several trading platforms, including Bithumb, Upbit and Gate.IOs. At the same time, large small positions on the major derivative platforms were opened, which suggests an orchestrated manipulation for the benefit of the accident.
The Soon Foundation denied participation with the team or the aggrieved market makers, later revealed the wallet address to support the climb. The Foundation believes that the phenomenon was a deliberate and coordinated attacker by a professional trading institute with a market experience, especially designed to take advantage of the liquidity interval between deep markets and thin spot liquidity on Korean exchanges.
In addition, the Foundation stressed that the crash took place amidst important development efforts, including the upcoming launch of fabric like new CEX listing, improvised spot liquidity, and Simpfor.Fun V3, upcoming launch of any market disruption for the project interests.
On July 17, the Sun community issued a proposal called “token burn and buyback plan, in which the previous Potental Market Herafer was addressed,” who unanimously received support. The scheme underlined 7.7 million unclaimed aircraft tokens and the immediate burn of the burn and the additional 22.3 million token tokens -a total of 30 million in a total of 30 million, or a total of 3% of the total complement for approximately 3% July.
The launch of today’s token redemption program appears to be the initial implementation of the buyback system mentioned in that proposal.
Soon the price jumped 5% on the announcement, currently traded at $ 0.15 and test resistance in 20-day EMA.
