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GRVT, a cryptocurrency and real-world asset perpetual futures trading platform, said it bought back and burned 1.1 million GRVT tokens through its first public-market token buyback. The burn amounted to about 1% of circulating supply at the time of purchase.
The company said it plans to carry out additional buybacks each month, although the size and timing will be determined entirely at its discretion, with no fixed amount or guaranteed schedule. GRVT also said it plans to launch Grvt Earn, a yield-generating product, in late October.
In November, the company plans to introduce Stable Funding Perps, perpetual futures tied to underlying assets such as commodities, stocks, foreign exchange, and indices, along with Yield as Margin, a feature that lets users use yield-bearing asset balances as trading collateral. GRVT 2.0, the company’s self-custodial trading app integrating those features, is scheduled for launch in late November.