Before the advent of blockchain technology and cryptocurrencies, buyback events were the reserve of the stock market. Companies would use their profits to buy back their shares from the open market and retire them, reducing the overall supply of shares in circulation and ultimately increasing the value of what remained in circulation. A buyback even is simply the opposite of inflation.
Since entering the crypto space, Little Baby Doge has been quietly working on a buyback event that will have a similar impact on its tokens’ value.
Just last year, Binance conducted one of the biggest BNB burns that saw the token rise in value exponentially. In the burning process, the project removes tokens from circulation, thereby reducing the number of coins in use. The tokens are sent to a wallet address that cannot be used for transactions other than receiving these coins that are to be burned. This decrease in supply creates a positive counter effect in the price of the tokens where it increases.
What Is $LBD?
For the uninitiated, LBD is a meme coin and part of the Dogecoin meme revolution that gained traction for the better part of 2021. However, beyond its meme coin status, LBD features a robust token economy that comes with a hyper-deflationary token, a decentralized exchange, and even an NFT marketplace. All this is done to galvanize a community of crypto enthusiasts who not only earn and transact in crypto but also champion climate change awareness.
LBD’s Hyper Deflationary Token
As a hyper-deflationary token that features a highly efficient price stability algorithm designed to create an environment where prices stimulate rather than stagnate, LBD is soon activating its Buyback feature.
Given LBD’s supply of quadrillion tokens, activation of the Buyback feature will automatically collect 6% of each transaction whenever there is a sale order. A portion of the buyback amount will be used to buy tokens from LBD’s liquidity pool for the big burn event.
Conclusion
The upcoming big burn event is already creating a lot of excitement inside and outside of LBD’s community as it is set to increase the value of Little Baby Doge tokens. To participate in LBD’s token burn event, all you have to do is buy LBD tokens and HODL until the activation of the Buyback feature.
LBD’s big burn event is scheduled to take place after the project launches their Play-to-earn game version in approximately a month.
For more information about Little Baby Doge, join them on Telegram.
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