Phantom Foundation buys back tokens of six projects

The Phantom Foundation, a team dedicated to the development of Phantom, a Directed Acyclic Graph (DAG) smart contracting platform, will use some of its funds to buyback the tokens of six projects important to the Phantom ecosystem.

Unconfirmed reports indicate that the Foundation has already spent 870,000 FTM to acquire tokens for six Phantom-based projects: BOO, GEIST, BEETS, EQUAL.MMY, and BRUSH.

Rejuvenation Phantom

The team aims to strengthen supported projects, a move that will also spark activity in the platform and, indirectly, support FTM, the Phantom blockchain’s native currency. Overall, the Foundation is reposing its faith in these six projects and is committed to fostering growth, which is paying off Phantom Ecosystem,

It is common practice in the cryptocurrency industry to use project funds to buy back tokens. Whenever this happens, the value of the native token increases, increasing demand and increasing the valuation of the entire ecosystem. So, if history works out, the Phantom Foundation decision could have a similar effect, driving up the value of FTM and the six backing tokens.

expansion and partnership

Phantom Foundation recently partnership With the Government of Afghanistan to build a blockchain-based land registry system. The deal aims to improve transparency and efficiency in Afghanistan’s land registration process. they too to facilitate Adoption of FTM as a medium of exchange on various platforms including South Korean e-commerce website, 11Street.

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