GRVT, a company offering futures trading services on crypto and real-world assets, has announced the completion of its first buyback and burn operation for the GRVT token. According to today’s announcement, 1.1 million tokens purchased from the open market have been permanently removed from circulation.
The transaction was carried out by the foundation’s token issuer through an independent implementation partner. The purchased tokens were sent to the designated burning address.
The announced amount represents approximately 1% of the circulating supply at the time of the purchase. The issuer intends to continue monthly buybacks, but there is no fixed purchase amount or guaranteed schedule.
The announcement comes ahead of the Grvt 2.0 release, which the platform plans for the end of November. The roadmap includes Grvt Earn by the end of October and the ability to use earning balances as transaction collateral in November.
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The platform is also developing new perpetual contracts linked to commodities, stocks, currencies, and indices. The goal is to reach over 1,000 markets by the end of the year.
In line with this development, the GRVT price has risen by approximately 7% in the last 24 hours.
*This is not investment advice.
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