MVL Announces Successful Completion of the First Buyback Program Led by CEO Kay, Woo

By: Newsfile

MVL, a blockchain platform for mobility, has announced the successful completion of its first MVL recirculation (buyback) program, aimed at expanding its new ecosystem and led by CEO Kay, Woo

Seoul, South Korea--(Newsfile Corp. - February 15, 2024) - To address the latest approach, MVL set to revolutionize the token economy with successful completion of the first Buyback program. The program utilizes the profits of the mobility business to buy MVL tokens from the market and distribute the tokens among token holders.

The MVL foundation bought back a total of 228,703,423 MVL tokens worth US $1million through the global exchanges during the buyback program that ran from December 12, 2023 to January 31, 2024. The community will receive these tokens through MVL staking, a program that allows any MVL token holder to participate.

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In addition, MVL's buyback program is directly funded by revenue derived from actual mobility operations. In the long run, this is anticipated to decrease the number of MVL tokens circulating on exchanges.

According to Kay, Woo, CEO of MVL, the company has created a unique token economy that is grounded in real mobility operations. "Our plan is to continue growing the MVL ecosystem by implementing the second and third buyback programs, which will be fueled by the success of our mobility business."

The MVL foundation runs the TADA ride-sharing service and ONiON Mobility service, which are utilized by millions of individuals. The foundation aims to be at the forefront of transforming the Asian mobility market.

Website link | buyback link

Media Details:
Company Name : MVL
Contact Person: Rose Purevdorj
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