Omni Foundation repurchased 33.7% of investor tokens for $18.1 million, optimizing the community-led distribution model

ChainCatcher News: According to official information, Omni Foundation announced the completion of a token buyback program to promote a more community-based token economic model. The buyback involved the repurchase of 33.7% of the tokens from early investors, representing 6.77% of the total supply, with investor holdings decreasing from 20.06% to 13.29%. The buyback tokens will be transferred to the "Community Growth" category, reducing the total holdings of investors, advisors and core contributors from 48.56% to 41.79%.

The buyback is executed at a discount below the current market price and in full compliance with the existing lock-up agreement. Funding came from $18.1 million raised through the foundation's seed and Series A funding rounds. The Foundation emphasized that this move aims to balance the original terms and commitments with the establishment of a community-led token distribution model to avoid breaking the existing agreement.

Omni Foundation said that by adjusting the token ownership structure, more rights will be transferred to the user community and long-term supporters. The strategy is partly a reference to the "community-first" distribution model of projects such as Hyperliquid, which aims to enhance the decentralization, resilience of governance, and long-term ecological sustainability of the network. The buyback is seen as a typical case of optimizing the structure of the token economy, coordinating the interests of early-stage investors and the community through capital means.

1.4K

The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.