Quote from: Kinkadeinspired on January 24, 2019, 07:04:26 PM

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Hello everyone, here is another exciting update from COVA.
Covalent kicks off 150MM COVA buy-back program. https://t.me/covalentofficial/113477

Wow. Thats great.
Covalent team would start the tokens buy back today on the first stage of the tokens buyback. Its going to last for the next five days. Tokens up to 50 million would be used to setup the COVA dApp Ecosystem Fund.

When did they sell their tokens? Now they are going ahead with buyback. Buyback from whom?

Their were private investors! and team released some token on market through the BITMAX Airdrop and sold some when they first came in the market! in simple word they are buying back from circulating supply!

What is the guarantee that these people are willing to sell their token this early? Knowing for a fact that the buy back programme will only increase the price, is there gonna be any incentive that will make them sell.

They are buying back the tokens directly from secondary markets. So when someone does list their tokens there, they are usually willing to sell them.