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!
The decision they took about going for private investors was a good one and it really turned things in their favor, only serious individuals will want to go for the token and they will have to do that by buying and not just the usual massive airdrop campaigns that has messed up the entire system, other upcoming brands have also started doing such