As the entire crypto market undergoes a correction and change in sentiment, PowerTrade Fuel Token has reached a point where the PowerTrade company views it as undervalued.
As a responsible disclosure, PowerTrade has decided to set aside $1m from treasury and has initiated a buy back of PTF tokens while it is deemed to be undervalued.
The exact price and duration of the buy back will remain confidential to prevent front running.
This capital allocation presents a risk in that it reduces company operating capital to release more product features, but given the advanced state of the product features in alpha testing right now, we view this risk as minimal.
Team Token Lockup Extended 6 months
When PTF was originally launched on September 24, 2020, the team tokens were set to unlock within 6 months, starting March 24, 2021.
As PowerTrade has been and always will be a long term focused project, the team has elected to extend the lockup for team tokens by another 6 months, so that the unlocking schedule begins September 24, 2021. The team token address can be viewed here: https://etherscan.io/address/0xB445517A470efa45Ef65De580Fc8b254dF204bB3
Official circulating supply can be found at https://circulating.fuel.power.trade/
The CoinGecko supply disclosure can be found at https://docs.google.com/spreadsheets/d/1X4_Dk2JW3wBzvn15uqn8Mm5iaXxdcrICZQrs9Q2Rm3M/edit?usp=sharing
CoinGecko independently calculates circulating supply based on the lockup address disclosure.