ROVR starts token burn

75•posted •active

ROVR has started their buy back and burn, which is based on 60% burn on data sales revenue (and 20% is used to buy GEOD and burn).

https://x.com/rovr_network/status/1993386705320357944?s=46

Burn transaction

Dune dashboard

This also corresponds to their announcement of a new customer, although not confirmed if this is the customer triggering the burn.

https://x.com/ROVR_Network/status/1993375380787363894?t=NJClMdmIKoAaAkimb8Nd-g&s=19

Overall pretty impressive considering it’s barely been a year since devices hit the field to generate data. Hopefully they match Geodnet burn rate 😉

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75•posted •active

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5 replies by 3 users

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What does that mean for us early contributors using Tarantulas that we purchased?

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@Appydepin it means we made alot of money for the company lol

@Appydepin it means you made a good decision purchasing a ROVR device

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@Xrave they should pay the device holders more since they do all the ground work.

@HeliumGoat the current rewards were based on generating the data to burn tokens. Just because they did start burns doesn’t mean they should arbitrarily reward more. All that would accomplish is generate more sell pressure and affect the token price.

One of the nice things about ROVR is their token is relatively stable since their launch, especially compared to other projects in this current market.

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ROVR starts token burn | Moken Forum

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ROVR starts token burn