SwissBorg completes Q3 burn of 300,000 BORG tokens
Summary
In a recent decision, the Guardians, who are BORG token holders, voted to permanently burn 300,000 $BORG tokens as part of their quarterly governance process. This token burn follows a cycle where trading fees on the SwissBorg platform fund regular buybacks of BORG tokens from the open market, which in turn supports user cashback rewards. As a result, the token holders will now decide if they will increase the next quarter's burn or maintain the current level.
Tokens
$BORG
Analysis
BORG: BORG is the native utility token of the SwissBorg crypto wealth management platform, which offers users access to on/off-ramps, exchanges, yield opportunities, and portfolio tools. The token supports governance, premium benefits, and a deflationary model through ongoing buybacks. In this news, BORG features a recurring cycle where platform trades fund market buybacks for user cashback, followed by quarterly Guardian-voted burns to reduce supply. Token Burn Governance: BORG token holders known as Guardians vote each quarter on whether and how much of the bought-back tokens to permanently burn. Buyback and Cashback Cycle: Trading fees on the SwissBorg platform fund regular BORG buybacks from the open market to support user cashback rewards before burns occur.
Categories
cryptohyperliquidon_chain_whale
Related sources
- https://x.com/swissborg/status/2084194883817156951
- https://coinranking.com/coin/YaUS48lpP+swissborg-borg/about
- https://x.com/i/status/2115078040543993856
- https://x.com/i/status/2112438009303879916
- https://www.coinbase.com/en-ca/price/swissborg
- https://swissborg.com/buy-borg
- https://x.com/i/status/2112197862608290088
- https://x.com/swissborg/status/2066523673285304805
- https://chainborg.com/
- https://x.com/swissborg/status/2115078052829130940
- https://x.com/i/status/2109857713492550000
- https://www.youtube.com/watch?v=BuCT1Un5ea4
- https://x.com/i/status/2115034834171023761
- https://www.coinbase.com/price/swissborg
- https://yellow.com/asset/borg