What is BuyBack&Burn?
Each quarter, starting in the first quarter of 2022, we have committed to buy back more than half of our previous quarter's turnover in euro POWER token value from the market and destroy half of it immediately. The buyout price of the tokens corresponds to the market price that is increased according to the following calculation method:
- up to the amount in POWER of your purchase during the ICO: +32%,
- up to 2 times the amount in POWER of your purchase during the ICO: +16%.
The POWER buyback program is available here : https://ib.exchange/buyback
To access it, you must have secured your Civicpower account through the double authentication mechanism (2FA). Go to https://app.civicpower.io/totp to activate it if you have not yet done so.
IBEx platform's turoriel: https://support.ib.exchange/hc/en-001/articles/5199131877661-First-steps-on-IBEx-platform
How the BuyBack&Burn works
- D-1: Announcement of last quarter's sales and $POWER redemption prices
- D0: opening of the buyback program
- D+4: redemption of tokens
- J+5 : token burn
Setting up the buyback
The 1st slider on the top right allows you to choose the quantity of POWER tokens eligible for buy back that you wish to be redeemed.
The 2nd slider below allows you, from the previously defined volume, to choose the proportion of POWER used for the buyback.
Click on the "DEPOSIT" button to proceed. POWER tokens placed in escrow during these 5 days of Buyback eligibility cannot be staked (nor withdrawn).
You will be credited in BUSD. No fee will be charged for this transaction. The balance will then appear on the IBEx platform, here : https://ib.exchange/accounts/busd/main
Some explanations to better understand
In the left frame you will find the following information:
- your rank in the burnlist: defined by your order of registration in the whitelist during the ICO. The first ones will have priority for the buyout. You can find the list here: https://burnlist.civicpower.io/burnlist/,
- buyback target: the total amount (€ and BUSD) used for the buyback to be divided among the eligible persons,
- distribution: how your tokens will be redeemed depending on the Buyback setting and the tokens purchased during the ICO and Presale. (More info in the whitepaper and this Medium article),
- requested BUSD: the amount in BUSD that you will receive depending on the setting and the maximum that can be redeemed (8% of the Buyback target max per person).
What if there are too many people eligible before me and I couldn't be redeemed?
The escrowed POWER tokens will be returned to you at the end (5 days after the opening of the quarterly BuyBack).
What if there are too many eligible people before me and only a part of my POWER tokens will be redeemed?
Partially redeemed users will have their POWER ICOs debited in priority to the POWER MAIN.
You want to store your POWER and get paid for immobilizing your tokens?
How to transfer your POWER "MAIN" to your crypto address:
Release schedule for POWER tokens: