The income distribution of trading fees obtained by TOP Community during July 3 2018 to July 4 2018 was summed up. Due to the advance payment of trading fees on July 4th, the trading fees on the dates of July 3 and July 4 are summed up for the buyback & destruction. The total amount of funds for this buyback is:
Based on the market price of TOP tokens at a random time on July 5, the team bought back a total of 27782384 TOP tokens and has burned and destroyed those repurchased TOPs. The following are Txids which are burned and destroyed:
1. The income from Trading fees obtained by TOP Community will be preferentially converted into ETH within the TOP.ONE Exchange, and will be exchanged outside the Exchange if deviates from the market price by 20%.
2. To maintain the long-term stable development of ONE’s ecology, ONEs from dividends will be retained and will not be participated in the first buyback for destruction of the TOPs.
3. TOP.ONE Team will directly destroy TOPs from dividends which won't be took part in Live.
4. Subsequently, the accumulated large-scaled TOPs will be bought back and destroyed at once according to the actual distributed amount of daily trading fee income.
5.TOP will release the announcement on the next day after buyback & destroyed.
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