QuarkChain Will Launch a $25 Million QKC Buyback

QuarkChain foundation will be launching a $25 million USD buyback program. QuarkChain will also postpone the unlock time of 1 billion QKC (belong to QKC team and it’s foundation) until June 2020.

Cryptocurrency buybacks have been increasing in frequency lately, which is not by itself that unusual considering the condition of the ecosystems. When a Cryptocurrency buyback is announced, it means the issuing foundation intends to repurchase some or all of the outstanding coins originally issued to raise capital. It is normally used when the foundation feels that its coin price is trading below its fair value.

A buyback benefits coin holders by increasing the percentage of ownership held by each investor by reducing the total number of outstanding shares. The downside of buyback can be a signal of the marketing topping out, buybacks can superficially boost earnings. Also, when buybacks are announced, any share price increase will typically benefit short-term investors rather than investors seeking long-term value.

What is QuarkChain (QKC)?

QuarkChain is highly scalable and easy-to-use blockchain-based on sharding technology. It’s one of the first public chains that successfully implemented state sharding technology for blockchain.