In a historic deal, the Kyoto Foundation has announced an unprecedented acquisition of 120 million KYOTO coins ($KYOTO), marking the single largest purchase in the foundation’s history.
This transaction raises the foundation’s supply holdings to an impressive 316,475,326 $KYOTO, further establishing its commitment to advancing its native ecosystem. With a value exceeding $40 million based on a launch price of 33 cents, this significant acquisition showcases the Kyoto Foundation's dedication to protecting and enhancing the value of its token. The move has strategically reduced the number of publicly owned tokens in circulation, amplifying demand-over-supply dynamics and bolstering confidence in the market.
Ringfencing liquidity for sustainable growth
The foundation will look to lock up its bolstered supply via smart contract, reserving 8% specifically for liquidity purposes. This step effectively reduces the available supply of $KYOTO by 120,000,000, solidifying the foundation's role as a steward of stability and economic strength, giving an added benefit to existing holders.
Empowering operations through the $KYOTO token
Kyoto's blockchain ecosystem and supply chain operations are orchestrated through its native currency, $KYOTO. During the pre-launch phase, the company has garnered a loyal community of holders spanning Discord, Twitter, Telegram, and the Kyoto Foundation. These stakeholders, as owners of $KYOTO coins, enjoy the liberty to engage with and explore the Kyoto ecosystem fully.
Ashton Hunt, Co-founder of Kyoto, said of the deal:
“I am delighted to announce this significant moment in our journey, which comes at a critical stage of our development. Through this strategic acquisition of 120 million $KYOTO coins, we are fortifying our token's economic backbone and ushering in a new era of empowerment for our users and holders.”
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