CBNK plans to buy back and burn 50% of TMTG/LBXC tokens
CBNK Ltd. announced a mid- to long-term plan for the buyback and burn of the gold-based cryptocurrency TMTG (The Midas Touch Gold) and bio-health platform token LBXC (Lux Bio), which was recently acquired by CBNK Ltd.
The foundation’s goal is to stabilize the market price by buying back and burning large-scale market circulation. By the end of 2025, TMTG and LBXC are planning to buy back and burn 5 billion units each. This amount corresponds to 50% of each 10 billion tokens, the initial issuance of the two tokens.