5th Buyback and Burn Outcome

. 1 min read

We are pleased to announce that the fifth LocalCoinSwap buyback and burn was completed on Sunday, December 20, 2020.

At a Glance:

  • Amount of LCS burnt: 442,678.3 LCS
  • Average LCS buyback price: 0.00000140 BTC / 0.033 USD
  • Price increase during buyback: 100%

The Details
Q4 of 2020 has been the best quarter so far on LocalCoinSwap. There have been significant increases across the board resulting in 66.6% more LCS being burned compared to the previous quarter with a 30% higher average buyback price.

Quarter 4, 2020 saw an increase in trade volume in USD terms of over 82% in comparison to Q3 (*using prices as of buyback dates). In addition, ETH trading increased over 600% and DAI trading over 300%, signalling increased demand for non-custodial on/off-ramps in the ETH/DeFi ecosystems.

The token burn can be seen on the blockchain here:

A breakdown of the buyback and burn as well as the quarterly volume figures can be found in our quarterly report.

This buyback was performed on Hotbit exchange. The previous buyback was trialed on Uniswap, however, after community feedback, this was switched back to Hotbit as it resulted in a higher number of tokens burned.  More information on this and the structure/timing of upcoming buybacks can be found in our last blog post here:

We would like to thank the LCS community for a great year and we are looking forward to serving you through 2021.

Thank you for your continued support and stay safe!

Happy Trading,
The LocalCoinSwap Team

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