SHANGHAI, Aug. 29, 2018 — Cyber Physical Chain (CPChain), the full-scale decentralised data infrastructure for the next generation of the Internet of Things (IoT), today announced its plan to buy back 50 million CPC tokens from the open market over the next 12 months. The buyback, which is the first of its kind in the industry, will allow the CPC token to retain its value by being removed from current market conditions, and demonstrates the company’s commitment to increase value for CPC token holders.
“We are pleased that CPChain’s strong balance sheet and cash flow enable us to return value to our investors through our future RNode Plan and token repurchases, while at the same time to bring back the true and fair value of our project,” said Dr. Long Chengnian, CEO of CPChain. “We believe that the company’s tokens are an attractive investment opportunity and repurchasing tokens is an important part of our token allocation strategy.”
Currently, 376 million CPC tokens exist, and buying back the tokens from the open market will further boost existing tokens’ value and increase the stake token holders have in the company. CPChain plans to buy back more than 13 percent of the total tokens, which will be removed from circulation and create a healthy ecosystem of CPC coins.
CPChain has made strides within the industry, closing $30 million in a private sale in less than 48 hours, and receiving support in the form of investments and partnerships from the Trusted IOT Alliance (TIOTA), MOBI, High Performance Blockchain (HPB) and VeChain. The company is on track to launch its PDash platform later this year, which incentivises users to share information and assures the quality of data listed in its marketplace without the need for costly third-party support from data miners.