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Just got this question: how Unus Sed $LEO holders and wanna-be holders can check if @bitfinex will use really 27% of its revenues to buy back LEO.
To play the devil advocate imagine we could:
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- report lower volume to buy less LEO but need to explain to an horde of traders why their trades are not reported in the public feed <- so it would not work
- report more (fake) volume but we would commit more money in the process consuming our reserves <- it won't last
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So in my opinion our buy back mechanisms is super-transparent and protective of LEO holders. That is why I claimed we made an unprecedented move among exchanges. Now our revenues are under everyone's eyes.Show this threadThanks. Twitter will use this to make your timeline better. UndoUndo
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Close logic, but there can be alternate theories, since transparency of the initial raise was low. Example: 1: Claim to sell all 1 bil tokens in private IEO, but reality only sell 800 mil tokens. Keep 200 mil. 2: Report higher fake vol, but 'buy back' unsold LEO at zero cost.
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Very hard but not impossible to disprove while most tokens are held on Bitfinex
End of conversation
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