Singapore startup announces token buyback program along with exchange delisting plans
SUBX FINANCE LAB is a blockchain-as-a-service provider for businesses to integrate web3 technologies into their products and services.
Founded by tech consultants Adam Ihsan and Joe Kawai, the startup has the vision to drive the effective adoption of web3 technology in a fast and cost-effective manner. Their products are easy-to-deploy and can be integrated into existing products and processes, allowing businesses of all sectors to leverage web3 technology.
In November 2021, they received 1500 BNB during their private and public initial dex offering. Since then, the startup has been featured on various news media, including Yahoo and Vulcan Post. It also boasts a vast social media presence and following.
However, the global crypto market cap has fallen more than 40% since December last year. According to data from Coinmarketcap, the current global crypto market cap has shrunk down to USD 1.24T.
Due to the unfavourable market conditions, SUBX FINANCE LAB has announced the intention of purchasing all of its tokens from its holders. Their token is currently pegged to the BNB token, which has depreciated in value since early 2022. This move is expected to prevent any further depreciation in token value and protect the interest of token holders. The startup has decided to voluntarily delist its token on LBANK, Probit Global and Pancakeswap.
According to an interview conducted with the CEO, he mentioned that the startup would purchase over 1200 BNB worth of their tokens back from their holders. This represents 80% of the total amount they initially received from their holders. In addition, all holders will be whitelisted for any future IDO from the startup.
If you are interested in innovating with web3 technology or are an investor/advisor looking to reach out to the team, please contact ZeMin Chen (CMO) at [email protected]. Alternatively, you can also follow their social media via the links below –
Official Website: https://subx.finance/
Twitter: https://twitter.com/officialsubx
Media Contact
Company Name: SUBX PTE LTD
Contact Person: ZeMin Chen
Email: Send Email
Country: Singapore
Website: https://subx.finance/
