The buyback mechanism really have good effect on dumpers trying to dump their tokens ,lately two projects I promoted started buying back their own token from bounty hunters or big whales who wants to sell off and move on ,the first project is miracle tele project and the buyback is already on going ,the second one is about to start and the name is CHELLE Coin, buying back tokens is a brilliant idea what do you guys think?
The idea behind buyback is a very good one which will enhance the stability of price of tokens. However most team are not truthful when it comes to buy back. I promoted a project last year, by the time it got to the exchange, the bear season had a negative impact on the price and it really dumped, the teamn promised to buy back to stabilize the price, unfortunately, the buyback did not yield any productive result because the team was also buying back at a very low price rendering the aim defeated.