Degen Chain Founder Announces Buyback and Vesting Updates Amidst On-Chain Token Concerns

IconCNT15 May, 2024

cryptonews.jpg

Degen Chain Founder Announces Buyback and Vesting Updates Amidst On-Chain Token Concerns

In a recent live stream, Degen Chain founder Jacek Trociński addressed community concerns regarding recent on-chain DEGEN token sales. To alleviate these concerns, he announced a buyback of all recently sold tokens. Trociński also revised the token vesting schedule, extending it from two years to five years with no cliff. Furthermore, he outlined plans to sell a portion of his personal token holdings monthly until 0.75% of the total DEGEN supply has been sold. The remaining unsold portion will be held long-term, demonstrating his commitment to the project. Previously on 15 May 2024, Trociński announced the buyback of recently sold DEGEN tokens and plans to sell a portion of his personal holdings monthly.

Related News