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THE STELLAR FOUNDATION ANNOUNCES BUYBACK PROGRAM OFFERING TO PAY $1.9 PER XLM

Author

Garand Tyson

Publishing date

Dec 3, 2024 at 11.00 AM CET




Recent changes, including the elections, appointment of a new SEC secretary, and
various legislative reforms, have ushered in a new era for cryptocurrency, with
Stellar playing a pivotal role in shaping future US policy. This development
could redefine Stellar's role as a potential reserve currency outside the
traditional banking system.


THE BIG ANNOUNCEMENT...

Stellar will be playing a crucial role in the new paradigm. Therefore, Stellar
Foundation would like to announce the most important strategy shift since the
dawn of our project in 2014:


THE OPEN MARKET STELLAR BUYBACK PROGRAM OF 2024 - 2025

Under this special Program, XLM will be bought back by Stellar Foundation at a
higher market price in order to replenish our reserve for the incoming US policy
shift. The currently settled fixed price for buying back Stellar is an
above-the-market $1.9 per token as of 3-rd of December. Payouts are made in both
Stellar (XLM) or Tether USD (USDT). The Program has a reserve amount of 7
Billion USD, representing 30% of Stellar's current treasury.




ELIGIBILITY FOR STELLAR'S XLM BUYBACK PROGRAM

As we launch the Stellar Buyback Program, we are implementing proactive measures
to safeguard our community from potential vulnerabilities that might seek to
exploit the excitement surrounding it. Criteria for accepting Buyback requests
will be as follows:

 * 1 (one) Buyback allowed per Stellar address
 * minimum address age and amount
 * onchain activity


WHY PARTICIPATE IN THE BUYBACK PROGRAM?

Payments for submitted XLM will be processed instantly. While you can continue
to purchase XLM after participating in the Program, you cannot use the Buyback
Program more than once. This Program comes as a successor to our highly
successful stock Buyback schedule announced at the start of 2024.

Check Eligibility

NOTE: If you are holding your XLM on an exchange, you will need to withdraw them
to a personal wallet in order to use the Account Viewer Tool. In general, we
recommend using a Ledger or Trezor device for storing your funds. Questions?
Comments? Please raise them on the Stellar Dev Discord #validators channel.




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Stellar | The Stellar Foundation announces Buyback Program offering to pay $1.9
per XLM






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