Introducing the BlockchainSpace $GUILD Buyback and Burn Program

BlockchainSpace
3 min readFeb 8, 2024

BlockchainSpace is thrilled to unveil the $GUILD Token Buyback and Burn Program, an initiative to advance our commitment to token sustainability and community empowerment.

This program is a cornerstone of our recently released YEY-$GUILD tokenomics and whitepaper and represents a significant advancement in our commitment to token sustainability and community empowerment.

In December 2023, BlockchainSpace released an updated whitepaper and tokenomics, incorporating $GUILD token sinks and utility in our flagship product, YEY.

Shinys are at the heart of the YEY rewards ecosystem. This buyback and burn strategy correlates to the platform engagement and adoption with $GUILD.

What You Need to Know

The program is structured around a clear mechanism where a predetermined portion of BlockchainSpace’s revenue is allocated for the repurchase of $GUILD tokens from the open market.

Buyback: A portion of our revenue will be used to purchase $GUILD tokens from the open market. The tokens bought will be removed from circulation, a process that can be monitored through a transparent and verifiable process.

Burn: Tokens bought-back will be permanently removed from circulation, thereby decreasing the total supply.

Transparency: We commit to full transparency by providing regular updates on our buyback and burn statistics including number of Shinys minted, $GUILD bought back, and $GUILD burned. These numbers are publicly accessible on www.blockchainspace.asia/tokenomics. You may also see all burned $GUILD tokens on this Ethereum wallet.

Community Incentives: Aligning with our goal to reward our community, the reducing token supply would enhance the value of $GUILD holdings for existing token holders (with all other factors remaining unchanged).

Long-Term Sustainability: By actively managing the token supply, we aim to bolster the long-term viability and success of $GUILD and the BlockchainSpace ecosystem.

Disclaimer: It’s important to understand that the value of $GUILD or Shinys can significantly fluctuate. You should transact or engage in these assets only if you are familiar with them and thoroughly understand how they are created, transferred, or held. Please be aware of the risk involved, acknowledging the possibility of financial loss due to value changes.

Engage with Us

For further information and to stay updated on the Buyback and Burn Program, we encourage you to visit our official channels. We welcome feedback from our community as we implement this initiative and continue to refine our strategies.

Your feedback is invaluable as we continue to refine and optimize our tokenomics for the benefit of all $GUILD holders, YEY users, and BlockchainSpace community members.

Thank you for being part of the journey towards a stronger and more vibrant $GUILD community!

About BlockchainSpace

BlockchainSpace, a Singapore-based Web3 company backed by leading investors, fuses technology and culture to empower diverse communities across Southeast Asia — from gaming and the creator economy to sports, music, and everything in between.

Offering specialized solutions like YEY, Metasports, Creator Circle, and the Guilds Hall, BlockchainSpace delivers tailor-fit tech solutions that redefine digital engagement and community growth.

$GUILD is the utility token that underpins the entire ecosystem of BlockchainSpace. Beyond building platforms, BlockchainSpace is shaping the future of community-driven digital landscapes.

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BlockchainSpace

BlockchainSpace enables PlayToEarn Guilds to scale in the Metaverse