Genius to Use Portion of App Revenue for GENIUS Token Buyback and Burn
Original headline지니어스, 앱 수익 일부로 GENIUS 환매·소각 추진
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GENIUS token issuer Genius, an on-chain trading platform, announced it will use a portion of Genius App revenue to buy back GENIUS from the market and permanently burn it, aiming to expand the token's role in its ecosystem and increase holder benefits. GENIUS holders will receive fee discounts on the Genius App and other Genius apps, though the discount size and timing were not disclosed. Users holding 1,000 or more GENIUS will receive verification and top-tier user status within the app, with additional perks like gifts possible later. Genius launched the Genius App on BNB Chain on October 27, combining trading, social features, and token creation. The buyback-and-burn mechanism ties token demand to app revenue, a deflationary supply model common among exchange and app tokens. Watch for details on discount rates, burn volumes, and how the program affects GENIUS circulation and app usage.
Muhabbit's AI wrote this summary in its own words from TokenPost's report and translated it from Korean. It can get details wrong, so check the source.
Named in this story
GENIUS, Genius, BNB Chain (BNB)
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