Token Buy-Back Program
The management of VisionX has approved a repurchase agreement with the option to buy-back and burn up to 30% of the circulating supply of the VNX token over a 24 month period, effectively immediately. In years 3 and 4, VisionX has the option to buy-back and burn up to 30% of additional coins released into circulation, in accordance with the terms listed in our white paper.
The buy-back and burn program has been approved, effectively immediately.
This buy-back has no implications impacting our burner program stated in our white paper.
All repurchases of VNX token will be performed on Secondary Markets.
The buy-back and burn repurchase agreement sets forth the option to remove up to 30% of VNX token from current circulating supply in years 1 & 2, starting May 23rd, 2019 and ending May 22nd, 2021.
In years 3 and 4, VisionX has the option to buy-back and burn 30% of any additional VNX token released into circulation, starting May 23rd, 2021 and ending May 22nd, 2023.
The decision to purchase VNX on the secondary markets could be accelerated or decelerated at anytime.
To Our Community
As we have seen through various and unwavering market conditions, the price volatility in digital market places are much higher than in traditional asset classes. The buy-back and burn program will inherently support the underlying growth and price stability of our token, VNX. Through the buy-back and burn mechanism, we are increasing the liquidity of VNX token by decreasing the overall supply, yielding lower price volatility.
Since the initial release of VNX token on the secondary market, the price had fallen precipitously from November of 2018 until March of 2019. Even after current prices, we view the market capitalization to be substantially undervalued based on fast-tracking progress we have made through our product pipeline, technology and marketing fronts. As previously stated, this is the second of five strategic announcements that will be released in the short term. The VisionX ecosystem continues to be grounded by the unwavering support and trust from our community. This buy-back cements our firm belief in our company’s vision and the continuity shared with the VisionX family.
VisionX, industrial AI chain, is a cross-industry high-performance AI collaboration platform, is the first AI+Blockchain project the DeepBrain Chain Silicon Valley lab has incubate. It has the single biggest and quality image dataset, uses a Unique taxonomy algorithm to complete a cross-industry AI solution fit for all. VisionX uses product surface defect visual detection as a breaking point, to gradually branch off to machine arm grab and pick, preventative maintenance, intelligent speech, supply chain and other fields. In the future it will serve thousands of industries offering AI solutions and data worth millions.