Each quarter, starting in the first quarter of 2022, we have committed to buy back 56% of our turnover of the previous quarter valued in euros. This repurchase of POWER is done on the market, more than half of these tokens are then immediately destroyed (up to 32% of the turnover).
The turnover of the last quarter (Q2021) is 17,857.14 €. Therefore, the amount used for the redemption of POWER tokens was 10000€ or 11,019.15 BUSD.
The prices of POWER tokens were defined as follows:
- POWER MAIN: $1.41, it was based on the market price at time T (PancakeSwap).
- POWER ICO: $0.28, it was based on the average price of the last 10 days of the OTC.
Still in accordance with the promise of the whitepaper, the final redemption price of the tokens is increased according to the following calculation method:
- up to the POWER amount of your purchase during the ICO: +32%,
- up to 2 times the amount in POWER of your purchase during the ICO: +16%.
For this quarter, all tokens were redeemed at +32% (see this Medium article for a reminder of the benefits given to presale participants).
How is the buyback structured?
With the 56% of the turnover, we bought 26,645 POWER :
- 25,860 POWER-ICO (out of 33,510 offered for buyback),
- 785 POWER-MAIN (out of 819 offered for redemption).
Of these 26645 tokens :
- 28.57% (i.e. 16% of the turnover) will be used to pay the team: 7,388.57 POWER-ICO and 224.29 POWER-MAIN
- 14.29% (i.e. 8% of the turnover) will be used to remunerate the ecosystem: 3,694.26 POWER-ICO and 112.15 POWER-MAIN
- 57.14% or 15,225.71 POWER (i.e. 32% of total turnover) were destroyed in the same proportions: 14,777.14 POWER-ICO and 448.57 POWER-MAIN
The destruction of POWER tokens can be seen here:
Total supply now goes from 50,000,000 POWER to 49,984,774.285714 POWER
To learn more about the Buyback&Burn process, please read the Whitepaper and our dedicated tutorial.
Votelab SAS is a company with a mission within the meaning of Decree №2020–1 of January 2, 2020 introduced by the PACTE Act of 2019. The company is independent, 100% owned by its founders and self-financed.
Civicpower is an association under the 1901 law. It controls access to the private key of the blockchain, the gits of the code, the governance of ChainR OÜ which holds the POWER treasure, owns the Civicpower and CryptoPolitics brand as well as the users database.
Civicpower ecosystem links:
📱 Our webapp: https://app.civicpower.io
🌐 Website : https://civicpower.vote
☢️ Beta test group: https://t.me/powerbeta
💡 Idea box: https://civicpower.io/idea-box/
Partner integrator France: https://votelab.io
Main website: https://civicpower.io
The burnlist: https://burnlist.civicpower.io/burnlist/
🦄 Announcements: https://t.me/powerAnnouncements
- 📙 FAQ: https://t.me/powerfaq
- 🇫🇷 POWER FR official https://t.me/powersoff
- 🇬🇧/🇺🇸 POWER EN official https://t.me/poweroffEN
Main site: https://otc.civicpower.io
Offer board: https://burnlist.civicpower.io
- Main : https://t.me/powerotc
- Hot offers : https://t.me/joinchat/oHn8q0rdj-QwYzY0
🎁 The famous 100k challenge:
₿ The Civicpower Blockchain: https://t.me/civicpowerblockchain
🏆 Polls (Presidential 2022): https://sondages.civicpower.vote
🤫 Cryptopolitics: secret project