Klaytn Foundation Buyback Announcement

TL;DR

  • Klaytn Foundation’s stablecoin reserves will be used
  • Only through spot purchases from the market (CEX)
  • All KLAY purchased will be burnt
  • Funds used for the buyback come from stablecoin reserves held by the Klaytn Foundation, secured previously from strategic partners.
  • The buyback is strictly limited to spot purchases directly from the market (CEX) and is being strategically executed to minimize market volatility.
  • All KLAY purchased via the buyback will be burnt.

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