News/Klaytn Foundation Announces $KLAY Buyback in Progress

Klaytn Foundation Announces $KLAY Buyback in Progress

Oct 24,2022,18:58

Klaytn Foundation released a $KLAY Buyback Announcement, saying that the team detected abnormal fluctuations in on-chain liquidity on October 21st, and a decision was made to execute a market buyback of $KLAY from the markets in order to stabilize Klaytn's ecosystem. The buyback is now in progress. The funds used for the buyback come from stablecoin reserves held by the Klaytn Foundation, and the buyback is strictly limited to spot purchases directly from CEXes. All $KLAY purchased via the buyback will be burnt.

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