Spheron, a decentralized compute platform, has successfully executed the burn of $SPON tokens under its Secure Compute program. This move aims to create a deflationary economy for the token.
First $SPON Token Buyback
During the first cycle, Spheron bought back 0.625% of the total $SPON supply for $500K at an $80M Fully Diluted Value (FDV). All tokens will be permanently burned upon receipt.
Secure Compute Mechanism
Spheron's Secure Compute Flywheel model links compute demand with token scarcity, enabling buybacks based on network revenues and subsequently burning tokens to ensure long-term stability.
Spheron's Long-Term Strategy
The burning of tokens is part of a cyclical strategy that ensures rewards for providers, affordable compute for users, and benefits for token holders from a shrinking supply. It reinforces Spheron's vision of a self-reinforcing compute economy.
This buyback and burn of $SPON tokens marks the beginning of a cyclical strategy aimed at ensuring sustainable network growth and benefits for all participants.
