FGL Token Buyback Program What is it? Every "pack drop" sale, for any FGL play-to-earn game, will divert some % of the revenue from the sale to an "FGL Buyback Pool". Then, from time to time, FGL will utilize the WAXP in the Pool to "buy back" tokens from the open market (through exchanges, such as Alcor).
Why a Buyback Program? The purpose of this program is to bolster liquidity of the FGL Token. Since any Token's value is only guaranteed if there is someone to buy it, we hope the Buyback Program instills some confidence in FGL Token Holders since some % of tokens are guaranteed to be bought back (over and above all other token transactions in the market). Also, this will inherently add value for anyone purchasing FGL NFT packs since a % of their purchase will be used to buy back the Tokens they earn in games they purchased the packs for.
How much revenue is diverted from the pack drop sales? Currently 5% of all "Pack Drop" sales will go into the Buyback Pool, but this number may change in the future.
How will Tokens be bought back? Though there are no specific conditions for when / how many / or at what price tokens will be bought back, the general rule we will follow will be to have a steady stream of buying on exchanges at, or above, current market price of the Token.