GoPlus Completes $GPS Buyback and Burns Over 177 Million Tokens Worth $3.06 Million

The GoPlus ecosystem is reaching an important milestone. The project has carried out a large-scale token burn to buy back tokens and remove them from circulation. The GoPlus team says that on April 15, they burned 177,158,631.6129889 GPS tokens, which was worth about $3.06 million USD at the time of the announcement. The earlier assurance made by the team this year of repurchasing and retiring $GPS tokens as part of a strategy to decrease the supply of tokens and raise their value was successfully fulfilled with this latest token burn. The on-chain legitimateness of the transaction can be verified; details of which are accessible and comprehensible to the public. Therefore, this is a step (albeit a small one) in the right (actionably transparent) direction for the value of $GPS tokens to its holders. GoPlus Buyback Milestone Reached The GoPlus team previously promised a total repurchase of $4.34 million USDT, across multiple transactions. From March 19 to April 14, the project executed seven separate withdrawals from Binance, for a total of $4.04 million USD, getting the promise nearly fulfilled. The funds in question were used to methodically acquire GPS tokens from the open market. $GPS BURN ANNOUNCEMENT We've just burned: – 177,158,631.6129889 $GPS – Currently worth $3.06 M USD All $GPS acquired through the Buyback Program has been transparently transferred to a black hole address for permanent removal from circulation. The community can monitor this… pic.twitter.com/jda9iP4Ahv — GoPlus Security (@GoPlusSecurity) April 15, 2025 When the buyback phase was done, all of the tokens that had been bought back were sent to a black hole address we designated, at which point they were effectively burned and taken out of circulation for good. The specific transaction in which these tokens were burned can be seen by anyone through a blockchain explorer. If you really want, you can look it up yourself, using the following transaction hash: The hash is: 0xf4dc38fab4c42e0a10bcccadf1c3cd1918787433289e99a81b0ccbc85c1eee0d This level of openness promotes confidence in the community. It also serves a bigger purpose—creating a decentralized, secure, and user-first environment as GoPlus’s end goal. Strengthening the GoPlus Ecosystem GoPlus Network, noted for concentrating on the construction of user security infrastructures in Web3—such as token security APIs and decentralized risk alerts—has for some time been laboring to enhance the utility and credibility of its native token, $GPS. Part of that effort occurred recently, with the completion of a buyback and burn program. These events are foundational, I think, to understanding why one might want to hold this token. Retiring more than 177 million tokens, GoPlus is not only cutting down on the available supply of $GPS but also showing its long-term confidence in the token’s value proposition and the growth of its ecosystem. When it comes to signals of confidence and with respect to the token’s potential growth, burning a boatload of tokens is certainly one way to do that. Even more significant, this action shows how committed the project is to providing real value to its community of advocates and backers. In the team’s view, choosing to go with a buyback—and then a burn—for the project’s ERC-20 governance tokens was a decision baked with: • Solid financial standing • Proactive, not reactive, tokenomics • Sustainable by design “Finishing the buyback program is more than just a financial milestone. It shows our continued dedication to strengthening the $GPS ecosystem and building long-lasting value for our community.” This was stated in an official announcement by a GoPlus spokesperson. Looking Ahead Having completed the buyback and burn, GoPlus is now looking to the next phase of development. The team is hinting at a number of ecosystem enhancements and product rollouts that are aimed at pushing the platform deeper into the Web3 security sector. “Web3 is still a nascent industry, and we are looking at the overall expansion of Web3 security, both in terms of the current market and the adoption potential of our products and services,” said co-founder and technical director Steven Zhang in a recent call with investor relations. Successfully executing the buyback and transparently handling the burn event have earned the crypto community’s praise for GoPlus. With this initiative now behind them, GoPlus looks more determined than ever to solidify its critical role in making Web3 a safe place for users across chains. The Web3 space is burgeoning, and with it, initiatives such as GoPlus’s burn program. This should not be taken lightly; we are starting to see in crypto—indeed, in the whole digital assets space—projects that reflect a maturing market. They take accountability seriously, and what they have going for them, at least in appearance, is community trust, transparency, and a commitment to long-term sustainability. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !