Following the recent release of updated white paper in July 2018, and after positive feedback from LIFE’s strategic partners and adopters, LIFElabs announced that they will be implementing a buyback of LIFEtokens from the marketplace.
The purpose of the buyback is to further enhance strategic vision and the role of LIFEtoken within LIFEPaaS proposition (please see white paper for more detail). This LIFEtoken allocation will secure its long-term utilitarian focus for the philanthropic partners team works with, for example crowd-sourced funding projects, a key element of the LIFEPaaS. Exploring this opportunity has determined that the LIFE merchant gateway has the requirement to ring-fence tokens, ensuring that these services can continue to operate (for example, with crowd-sourced funding, tokens will vest in projects for predetermined periods of time).
The buyback programme is expected to last between 12-18 months and will start from Q3 2018, commencing September 1st, 2018. The duration of the buyback process will be determined by both the product development programme and the market. The company has allocated sufficient funds, with price volatility forecast into LIFElabs purchasing projections based upon a 120-day moving average price for LIFE token (approximately 3-4 sats) as a near-term price target. This allocation of funding has no impact on the road map deliverables or funding of the company, moving forward.
The LIFEteam will continue to update the market on progress on a quarterly basis from January 1st 2019 onwards. According to LIFElabs team a detailed projection of the application of these tokens and the dynamics of the LIFEPaaS will be shared in next updated release of the LIFElabs.io white paper, scheduled for December 2018.
“Our mission is to make this revolutionary technology available to everyone, with a significant difference – one third of our LIFE token total supply is ringfenced for philanthropic causes, worldwide.” Team says.
LIFE current price is $0.000126 with a marketcap of $2,958,149.00. Its price is 50.53% up in last 24 hours.
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