Dear APEX Community,
The CPX buyback program (Phase 1) has just commenced as of August 30, 2020 — we have not released much details as the plan and strategy is still in the process of optimization and refinement. However, we now feel that we are able to share more concrete plans for the buyback.
- Exchanges [Primary, will be used for the long term]
- Private sale investors (OTC) [Secondary, will be used initially for batch trades]
APEX Network Core Development
- Team Buyback
A good portion of the buyback allocation will go to the team for long-term incentives, options, and/or investment. This portion includes Jimmy’s own CPX buyback allocation, currently planned to be around 50% of the team portion. APEX Core Development will execute the purchase and allow team members to purchase at the average price of CPX transacted.
Estimated Team Allocation: (20,000,000 CPX)
The remainder of APEX Core Development CPX will go to ecosystem development and incentives pool, and for future rewards, including related to staking.
Estimated Ecosystem Allocation: (10,000,000 CPX)
An additional portion of the initial buyback will be reserved for enterprise partners. APEX Core Development will pre-purchase these tokens and later provide an option to purchase at the average transacted price for the enterprise and ecosystem partners.
Estimated Enterprise Allocation: （6,000,000 CPX）
Exchange buyback has not started and is planned to start within the last two weeks of September
Thank you for your time,