Buybacks have been a tactic used for years in many different industries. A buyback is exactly what the name suggests, it is the mechanism of buying back something which once “belonged” to you.
Buyback schemes have been around in cryptocurrency for a while and they have been popular for masternode projects that see them as a way to reduce supply and stabilise the prices on exchanges. Often Projects will announce or detail buybacks in their roadmap or whitepaper, that they will be performing buybacks and burn coins which is aimed at reducing supply on exchanges and taking coins out of circulation.
PAWS believes that this system is flawed and will normally have the opposite effect with supply building on exchanges to list for an easy sell and before long all the projects reserves themselves will be burned with no funds left to develop or buyback more coins.
PAWS Doesn't do normal
From the first day PAWS opened. We have never done normal. PAWS listed on CoinMarketCap in 2 days and have been public and transparent from day 1. PAWS put 90% of the premine into public control and yet over delivered on listings by managing funds efficiently.
We believe in our project and we will continue to find OUR solution to all obstacles put in our way. We have nothing to hide and nowhere to run.
We won’t be burning our funds on exchange buybacks. We have always put our investors first and we will do again.
Let us introduce you to the PAWS Buyback Lottery. We want to take PAWS supply out of exchanges and completely out of circulation. That way the supply will be reduced and be able to catch up with demand, hopefully causing the price of PAWS to adjust accordingly.
How it works:
Every masternode is your own lottery ticket and the more you hold the better your chances are to win prizes much greater than market prices.
After our first announced live draw, all subsequent draws will be made randomly with an announcement on our twitter and media accounts that a live draw is about to take place. If you want to participate, you need to get those masternodes up and running as soon as possible.
If you are the winner, your masternode collateral will be sent to our PAWS VAULT and out of circulation, while you will be rewarded with a greater than market price reward.
Our 1st live draw will take place on 1st May 2019 to give everyone enough notice to be prepared.
A masternode will have to be live and in the list of active masternodes at midnight (CET) on the 29th of April 2019 (23.00 London time on 29th April 2019).
We will be pulling out 2 random winners from the total list of active masternodes at midnight (CET) on the 29th of April 2019. We will publish the masternode addresses on our website. You will then have to contact Ian on Discord.
The owners of the winning masternodes, that are to be bought back by PAWS at a price of $1,500 each, will be paid in BTC on or before the 7th of May 2019. We may give you the option of a higher value alternative, but it will be your decision to accept that offer or just receive the payment in BTC. Details about the exchange of funds will be agreed with Ian. But the fact remains, that if you are the winner, your masternode collateral which we will buy back at a greater than market value price, will be sent to our PAWS VAULT and out of circulation.
Yes, in case you were not a lucky winner, or even if you were one of the lucky 2 winners, after our first ever PAWS Buyback Lottery is completed, we promise you that after the new platform is launched we plan to announce randomly and at short notice that additional live draws are about to begin. Keeping your PAWS on the exchanges, will not give you enough time to start a masternode and participate in the PAWS Buyback Lottery. The PAWS Buyback Lottery will be including prizes in BTC and at other times prizes of much greater value than market rates at that time. The only requirement will be that you have a masternode running and that it is present in the list of active masternodes.
If the winner of the PAWS Buyback Lottery does not make him/herself known within 7 days, this person can no longer claim the prize and we will be picking a new winner from the list of active masternodes.