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?
Very brilliant idea, and it helps the value of the token grow, I guess they are just learning from the strategies of Binance, because this was the strategy that Binance first used in making their value appreciate, I learnt that what Binance usually do then was to buy back all these tokens, and they just dont buy them to keep, they buy them to burn, so they burn the tokens thereby reducing the supply of the token available in the market and then the demands available will continue to grow the value, and we know that this is the strategy that make the value of a coin grow more, the higher the demand and lesser supply, the more the value will grow. For these companies that have also adopted same strategy, I guess it is very okay provided they will burn the token.