CXT Buybacks? Oh, the Drama! 🎭

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Ah, Covalent. A name that, to the uninitiated, likely conjures images of chemical bonding rather than the delightfully baroque machinations of the crypto-sphere. But pay attention, dear reader, for they have unveiled something called the “Covalent Strategic Reserve.” It sounds terribly serious, doesn’t it? Like a fortress guarding a particularly precious collection of digital trinkets. 💎

This Reserve, you see, is a long-term fund – a repository of both the onchain and…well, presumably somewhat less glamorous, offchain revenues. These funds are, with a rather predictable flourish, intended to fuel ‘regular CXT token buybacks.’ Quite. As if tokens require constant fueling. It’s all rather automotive, isn’t it? 🚗

The grand ambition? To hoard approximately ten percent of the entire CXT supply. Ten percent! A delightful little asymmetry. All spending, naturally, will be subject to the capricious whims of ‘community governance.’ One imagines much impassioned debate, punctuated by pixelated emojis and promises of lambos. 🐑

Now, let us rewind to the year of our Lord 2025. Covalent, it appears, embarked on a spree of repurchasing 17 million CXT, powered by their own revenues. And, as if that weren’t enough, they rather efficiently spirited away another 9.05 million through daily onchain automation. A systematic dismantling of supply, no less! All, they would have you believe, in the name of ‘sustainable token economics.’ A phrase guaranteed to lull even the most cynical into a brief, illusory sense of security.😴

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2025-10-24 10:00