Buyback & Burn
Last updated
Last updated
$GALEON is a deflationary token. Initially, there were a maximum of 4 billion tokens, and to date, more than 59 million tokens have been destroyed ("burned").
With each deployment of Galeon in a new hospital, a portion of the services (equivalent to at least $10,000) is used to buy the $GALEON token from the market and burn it.
Of course! The Galeon team is working on new use cases for patients, caregivers, and investors.
Any "Buyback & Burn" operation is carried out from Galeon's "Burn" wallet, allowing everyone to verify that the tokens have indeed been purchased on the market and destroyed.
You can find all transactions from the burn wallet here 👇
Yes, but with Buyback & Burn, the token becomes scarcer and gains value in the long term.
Buybacks are done in Dollars and the amount of $GALEON destroyed depends on the token price, so the higher the price, the fewer $GALEON will be destroyed at each burn event.
The company's growth (more hospitals deployed and especially the ) will result in more Buyback & Burn.
The Galeon team is creating new channels for buyback & burn with the new use cases of the platform such as the technology.
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