HARA has a surprise for you! Getting closer to the end of Q3, we’ll be burning some of our HARA Tokens (HART) from our circulating supply in the market. Through this method, HARA aims to gradually create HART scarcity. But before that, let’s talk about what token buyback & burn is and the benefits it may bring to the HART community and token holders.
I. What is Token Buyback & Burn?
Simply put, the term “buyback” happens when a company or project buys some of its digital assets from the market. While the term “burning” a coin or token refers to the action of sending a specific amount of usable token to a specialized account to render it “unusable”. These two actions will then result in the decreasing of the token amount circulating on the market and increasing its relative scarcity.
In the world of digital assets, companies use a burn mechanism in order to control the supply and demand chain and manage the volatility of the market.
II. The Utility of HART
Through our various projects, such as the Halal Blockchain Traceability System, HART is utilized to record transactions into the blockchain system. HART is a crucial part of the traceability feature of our blockchain system as it allows the recording of various activities and data to the blockchain system, thus making it transparent and easily accessible for consumers.
As the demand for data transparency for food and other raw materials continue to grow, so does the natural demand for HART from our various projects and operations. This is so that HARA’s blockchain technology can continue to provide a transparent, secure, and trusted data source for the food, agricultural, and other social sectors in Indonesia.
III. HARA Token Buyback & Burn
The HARA Token Buyback & Burn is a continuous program that gradually aims to manage the supply and demand chain as well as create scarcity for HART. HARA will buyback and burn HART quarterly to reduce the amounts that are circulating in the market.
For this quarter, HARA will be burning 250.000 HART from our token circulation supply.
Learn more about HARA
Visit the HARA website
Read our White Paper
Legal Disclaimer. Contributions/Investment/trading in digital assets have a relatively high risk and may not match all types of investors. The value of the digital asset is very highly volatile. This could mean potential huge profits, this also could mean potential huge losses. HARA Tokens are digital assets, so if you are interested in becoming a HARA contributor, you must convince yourself of all aspects of HARA: technology, business models, and other related factors. You should be aware of the risks of failure will still exist. HARA cannot guarantee or be held responsible for any gains or losses from the performance of HARA Token which will fully be determined by market forces.