Each quarter, since the first quarter of 2022, we have committed to buy back 56% of our previous quarter’s revenue valued in euros. This repurchase of POWER is done from the priority list of participants in the 2021 ICO pre-sale and then on the market if there are any tokens left to repurchase.
More than half of these tokens are then immediately destroyed (up to 32% of the turnover), the rest being allocated to the Civicpower team and to incubated projects such as Noslois.
Still in accordance with the promise of the whitepaper, the final redemption price of the tokens is the market price increased according to the following calculation method:
- up to the POWER amount of your purchase during the ICO: +32%,
- up to 2 times the POWER amount of your purchase during the ICO: +16%.
For this quarter, we bought back 12,078 EUR (11,718 BUSD) of POWER, at a reference value of 0.0914 BUSD per POWER (see this Medium article for a reminder of the benefits given to presale participants).
How is the buyback structured?
15 people participated for a total of 42,610 POWER which were fully redeemed (https://ib.exchange/buyback).
Out of these 42,610 tokens :
- 57.14% or 24,348.6 POWER (32% of the turnover) were destroyed,
- 14.29% or 6,087.1 POWER (8% of the turnover) should have been used to pay the team but were also destroyed,
- 28.57% or 12,174.3 POWER (16% of the turnover) will be used to remunerate the ecosystem.
We completed the Buy Back by purchasing 55,700 POWER on Pancakeswap and we also destroyed them: https://bscscan.com/tx/0x0e39caa8960bdc4f370d7d0f191fc301d3b28afed72e7c282f313abb0484708a
Out of 98,310 POWER redeemed, 86,136 POWER were therefore destroyed. The destruction of these tokens can be seen here: https://bscscan.com/tx/0xa0241d3693bc1543e9337ed421cc5c5ec6b8357c5f14999453d8eb877728c2e3
The “Total supply” of POWER thus decreases to 49,887,464 tokens.
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:
🗳️ Civicpower
📱 Our webapp: https://app.civicpower.io
🌐 Website : https://civicpower.vote
☢️ Beta test group: https://t.me/powerbeta
💡 Idea box: https://civicpower.io/idea-box/
Telegram: https://t.me/civicpowerio
Twitter: https://twitter.com/civicpowerio
Mediums
Partner integrator France: https://votelab.io
💰 $POWER
Main website: https://civicpower.io
Medium
The burnlist: https://burnlist.civicpower.io/burnlist/
🦄 Announcements: https://t.me/powerAnnouncements
Social networks:
- https://twitter.com/pwrvote
- https://discord.gg/S34B2r2a
- https://www.facebook.com/pwrvote/
- https://www.instagram.com/civicpowertoken/
Telegram
- 📙 FAQ: https://t.me/powerfaq
- 🇫🇷 POWER FR official https://t.me/powersoff
- 🇬🇧/🇺🇸 POWER EN official https://t.me/poweroffEN
📈 OTCivic
Main site: https://otc.civicpower.io
Offer board: https://burnlist.civicpower.io
Telegram :
- Main : https://t.me/powerotc
- Hot offers : https://t.me/joinchat/oHn8q0rdj-QwYzY0
Help: https://civicpower.zendesk.com/hc/en-us/articles/4408478051217-Guide-de-la-plateforme-OTCivic
🎁 The famous 100k challenge:
🇫🇷 https://civicpower.io/civicid/
🇬🇧/🇺🇸 https://civicpower.io/civicid_fr/
₿ The Civicpower Blockchain: https://t.me/civicpowerblockchain
🏆 Polls (Presidential 2022): https://sondages.civicpower.vote
🤫 Cryptopolitics: secret project
