200K $CGPT BuyBack and Burn

Source: https://www.chaingpt.org/blog/200k-cgpt-buyback-and-burn

DAO Proposal #6 has been passed with 100% support.
BuyBack an/d Burn Event shall Commence.
Community Burn Event has been halted.

In May, the ChainGPT community took a vote over DAO Proposal #3 which suggested to initiate a “Community Burn Event”. Initially, the proposal was well received well by the members and passed with a majority vote.

However, after the recent macroeconomic turbulence happening with the crypto industry, it seemed as though $CGPT holders were more reluctant to let go of their tokens in such a manner.

Understanding this, a new proposal was submitted to the ChainGPT DAO suggesting a re-hypothecation of the Burn event. The objective was to halt the previously nominated community burn and substitute it with a Team BuyBack and Burn.

🧾 View DAO Proposal #6 🧾
“Proposal To Buy-Back & Burn 200K CGPT | DAO #3 Update Suggestion”

Receiving 100% support in favor, the proposal voting concluded on June 15 at 3:17 pm EST / 7:17 pm UTC.

📅 When will the Buyback and Burn happen?

At a random, unannounced time within 7 days of the proposal’s closure.

🔥 How many Tokens are being Burned?

200,000 $CGPT will be bought back and burnt.

❓ What happens to Tokens burned during community event?

That which has been burned will remain burned, approximately 6,000 tokens. All participating users of the previous burn event will be returned their total $CGPT contributions in full.

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