🔥Buyback and Burn
Shuffle will allocate 15% of non-SHFL net gaming revenue (NGR) and 30% of SHFL NGR to buying back SHFL tokens from the open market, subsequently burning purchased tokens. This is an update from our original 15% of theoretical revenue dedicated the buyback and burn program. SHFL will be bought back on the open market on a fixed interval basis, once a week. This creates a feedback loop where SHFL is directly supported by the health of the core Shuffle platform. As Shuffle grows, so will the buyback and burn, creating new demand for the SHFL token on secondary markets and increasing on-chain volume.
This buyback and burn will factor in all revenue from both the casino and the sportsbook on Shuffle and executed in the deepest liquidity SHFL pool.
The SHFL Buyback and Burn program will commence in the first week of SHFL's launch, with details around which pool and methodology of buying being released after the TGE.
All SHFL bought through the Buyback and Burn will be through the Shuffle.ETH address and sent to this burn address:
Users will be able to track all Buyback and Burns from both the SHFL Token Dashboard and Etherscan. Additionally, users who follow our official communication channels will be able to see all future of buyback announcements.
Buyback and Burn
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