Auction Buybacks

Vingt.io Auction Buybacks

The auction buyback mechanism in the Vingt.io ecosystem is designed to actively engage the community while reducing the total supply of VGT tokens. Periodically, VGT tokens collected from fees or other ecosystem activities will be pooled and auctioned off through the Vingt.io dApp dashboard. Users will have the opportunity to bid on these tokens, and the winning bidder will secure the auctioned tokens, which will then be permanently removed (burned) from circulation.

Key Features

• Community Engagement: Users within the ecosystem can participate in these regular auctions, contributing to the buyback process and maintaining active involvement in the platform’s growth.

• Deflationary Mechanism: Through the auction buybacks, VGT tokens will be burned, reducing the circulating supply and reinforcing the long-term value of the token.

• Transparent and Fair: The auctions will be managed transparently through the Vingt.io dashboard, where users can track and participate in real-time bidding, creating an exciting dynamic within the community.

This approach would promote active participation while ensuring a sustainable deflationary token economy.