In accordance with our statement on September 13th, 2020, we are providing you with an update on the buyback of XCASH from X-Network.
Between September 16th, 2020 and December 20th, 2020, we have acquired a total of 823,298,490 XCASH to our initial inventory of 10Billions XCASH. These funds have been added back to the company’s address (X-Network Inventory Fund) and can be verified with its reserve proof on the Segregated Funds page.
With this buyback, our objective is to support the price and confirm our commitment, after 2 years and a half of hard work, to make X-Cash a successful project.
The funds will remain locked and be used later on to support the growth of the project. These initiatives will include:
- Liquidity program for market-makers
- Grant to the foundation to support development
- Exchange listing contributions
- Support the X-Cash Foundation’s infrastructure & marketing costs
On behalf of all the contributors, I would like to thank you for the support throughout the years. We will keep on working towards developing great technology and reinforcing our communities thanks to the various initiatives we have started in the past months.