Automated Buyback System Goes Live, Lowering User Participation Barrier

Addressing recent community discussions, PONS founder Ozzy provided a detailed update on October 3rd. The key announcement is that the project's buyback and burn process has now been fully automated. This allows any community member to participate by triggering a specific bot, receiving a small reward in return. The change aims to enhance the transparency and accessibility of the entire mechanism.

Contract Upgrade Defines Fund Cycle and Buyback Rate

Responding to earlier community questions regarding fund claim frequency and execution pace, the development team has implemented a contract upgrade. The main adjustments include:

  • Fixed Fund Claim Cycle: A 7-day cycle is now established for withdrawing funds from the treasury dedicated to buybacks.
  • Cyclical Buyback and Burn: Over the following 7 days, these funds are used for continuous, automated buyback and token destruction.
  • Set Buyback Rate: The current automated buyback rate is set at 2e per hour. This rate is calibrated to match the approximate $950,000 pool in the Splitter contract, ensuring steady and sustained market operations without causing undue volatility.

Two-Tier Fund Structure for Future Planning

To ensure the long-term stability of the buyback mechanism, the project has outlined a new fund management strategy. Future buyback funds will be clearly separated into two distinct pools:

  • Active Buyback Vault: This pool is dedicated exclusively to executing buybacks within the current cycle.
  • Next-Cycle Reserve Vault: This pool is reserved to prepare for the buyback tasks of the upcoming 7-day cycle.

This two-tier structure is designed to ensure dedicated use of funds and seamless cycle transition, aiming to make the burn process more planned and sustainable.

Improved Communication and Community Response

In his response, Ozzy also openly addressed previous misunderstandings that arose during community communications. He apologized for these and stated the team's commitment to improving the clarity and timeliness of information sharing. Community feedback suggests that this detailed technical explanation and proactive communication approach have been well received by a majority of users.