Shivom is pleased to announce its plans to buyback up to 30 million OMX tokens or approximately 5% of current circulating supply in preparation for Shivom’s beta platform release plans in 2019. Beyond simply removing some OMX from current market conditions, Shivom plans to allocate the repurchased OMX tokens exclusively for incentivizing early adopters and driving community engagement on the Shivom platform.
According to Shivom CEO Henry Ines, “the buyback program is part of a multi-prong strategy to accelerate growth of the Shivom ecosystem, onboard new users, drive community awareness and engagement and ultimately to further enhance the value of the Shivom platform and the OMX token ecosystem.”
The repurchased tokens will be utilized to provide incentives and benefits particularly to new users, who upload their existing genomic data file on to Shivom’s secure platform and for those who purchase Shivom-branded kits and services in 2019. The buyback program will commence on 01 November 2018 and is expected to conclude by 31 January 2019.
In the interim period, Shivom also plans to release its ‘alpha’ platform on a limited basis for early testing and feedback purposes. The company in parallel also continues to advance its clinical R&D and pilot projects.
Stay tuned for more exciting announcements!
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