Saakuru Protocol

<p><a href="https://saakuru.com/" rel="noopener noreferrer nofollow">The Saakuru Labs</a> team executed their first token-burning event following the official launch on May 30th, 2024. The 11728 USDC stablecoin, generated as part of the recent protocol revenue from DeFi activities, products, and consultation services, was used to buy back tokens from the market. During this process, <a href="https://coinmarketcap.com/currencies/saakuru-protocol/" rel="noopener noreferrer nofollow">213,791.696 Saakuru ($SKR) tokens</a> were purchased and subsequently burned.</p><h2 id="header-0"><strong>Buy:</strong></h2><ol><li><a href="https://bscscan.com/tx/0xd0e25631e0dc042b50a3e68f01114e4c7eb272be173041c612c18cb142611916" rel="noopener noreferrer nofollow">0xd0e25631e0dc042b50a3e68f01114e4c7eb272be173041c612c18cb142611916 (BNB Chain)</a></li><li><a href="https://explorer.saakuru.network/tx/0x0315a28df1d867330597c9531450bad6eb71adf28bb51391b722750b57c28af8" rel="noopener noreferrer nofollow">0x0315a28df1d867330597c9531450bad6eb71adf28bb51391b722750b57c28af8 (Saakuru)</a></li><li><a href="https://bscscan.com/tx/0x6c8056516df5fb2e51ef483b41bacc91877b0f0208b0a2dd2e5743631b300812" rel="noopener noreferrer nofollow">0x6c8056516df5fb2e51ef483b41bacc91877b0f0208b0a2dd2e5743631b (BNB Chain)</a></li><li><a href="https://explorer.saakuru.network/tx/0x3232f60c97e7615cdfc99fe38051bb0c696b659bf9b6d4f1203da8d5a5a99c9c" rel="noopener noreferrer nofollow">0x3232f60c97e7615cdfc99fe38051bb0c696b659bf9b6d4f1203da8d5a5a99c9c (Saakuru)</a></li></ol><h2 id="header-1"><strong>Burn:</strong></h2><ol><li><a href="https://explorer.saakuru.network/explorer/tx/0x6bf31e8a2a4396ea232736d330f75f5692134f11fa720a71f840186097a32c2c" rel="noopener noreferrer nofollow">0x6bf31e8a2a4396ea232736d330f75f5692134f11fa720a71f840186097a32c2c (Saakuru)</a></li></ol><h2 id="header-2">Token Buyback and Burn Process Explained</h2><p>Our Layer 2 protocol is committed to enhancing the utility and functionality of our governance token. As part of our ongoing efforts to optimize the tokenomics and provide additional value to the community, we have implemented a buyback and burn process. This process aims to support the sustainability and long-term health of the protocol by reducing the total supply of tokens.</p><h3 id="process-overview">Process Overview:</h3><p><strong>1. Buyback Initiative:</strong> Periodically, the protocol will utilize a portion of its revenues to repurchase tokens from the open market. This action is intended to support the ecosystem by reducing the circulating supply of tokens.</p><p><strong>2. Token Burn:</strong> All repurchased tokens will be permanently removed from circulation through a burning process. This burning process ensures that the total supply of tokens decreases over time, aligning with our goal of fostering a robust and sustainable token economy.</p><h3 id="key-points">Key Points:</h3><p>Utility Focus: The primary purpose of the buyback and burn process is to enhance the utility of the token within our ecosystem. Reducing the token supply aims to support the protocol’s efficient functioning and governance.</p><p>- <strong>No Investment Representation:</strong> This process should not be construed as an investment opportunity.<strong> The buyback and burn mechanism is designed to improve the tokenomics and governance functionalities and is not intended to drive the token price.</strong></p><p>- <strong>Community-Driven Approach:</strong> The buyback and burn process is driven by the protocol’s revenue streams and is part of our broader strategy to continuously improve the protocol’s operations and community engagement.</p><p>By implementing this buyback and burn process, we aim to create a more efficient and utility-focused token economy that benefits all ecosystem participants.</p><h2 id="header-3">About Saakuru Protocol</h2><p><a href="https://saakuru.com/" rel="noopener noreferrer nofollow">Saakuru</a> is a consumer-centric L2 Protocol with Zero Transaction Fees developed using OP Stack and utilizing the delegate model to eliminate gas fees for users to create a frictionless experience for any applications building on top of Saakuru and enhanced with Saakuru Developer Suite that enables embedding complex digital products to Web3 in 1 day. The powerful and developer-friendly product suite centered around the Saakuru blockchain allows cost-efficient and seamless connectivity from Web2 to Web3.</p><h3 id="strong-learn-more-about-the-saakuru-protocol-strong"><strong>Learn more about the Saakuru Protocol:</strong></h3><p>Official website: <a href="https://saakuru.com/" rel="noopener noreferrer nofollow">https://saakuru.com</a><br />Official Twitter (X): <a href="https://twitter.com/saakuru_labs" rel="noopener noreferrer nofollow">https://twitter.com/saakuru_labs</a><br />Official Telegram community: <a href="https://t.me/aagventures" rel="noopener noreferrer nofollow">https://t.me/aagventures</a><br />Official Discord community: <a href="https://discord.com/invite/saakuruprotocol" rel="noopener noreferrer nofollow">https://discord.com/invite/saakuruprotocol</a></p>

The first Saakuru ($SKR) token burn event was executed on June 5th, 2024. This is important information about tokenomics realization.

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Saakuru Labs

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