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FollowingInterlink launches second phase of reverse auction repurchase program
Based on the successful completion of the first phase, Interlink has now launched the second phase of reverse auction repurchase program. In the first phase, the project party has purchased back 20,000 $ITL tokens from community members.
Detailed explanation of the repurchase mechanism
This mechanism uses a reverse auction: community members who wish to sell $ITL submit a quote, and the project party selects the most competitive bid within 48 hours. Sellers who successfully sell will receive $USDT payment directly from the project treasury. Interlink Labs uses its own treasury funds to repurchase, and the repurchased ITL tokens may be destroyed or redistributed to community contributors.
Participants who are not selected in the first stage will have their $ITL reversed so that they can resubmit their offers in the second stage. Sellers selected in the first phase will receive payment of $USDT within 1 week.
About Interlink and ITL Tokens
Interlink Network is a people-oriented Web3 blockchain that uses a proof of personality mechanism to verify real users, thereby eliminating robot and witch attacks. A user can become a verification node by generating an encrypted identity hash through a secure face scan-the entire process does not store any biometric data, and only confirms that the user is a unique real person through zero-knowledge proof.
Its main token, ITLG, is only issued to authenticated users as a reward for identity verification and active participation, with both utility and governance functions. The auxiliary token ITL is used for external transactions, institutional interactions and exchange liquidity.
The project emphasizes deflationary mechanisms, including the destruction of tokens through activities and up to 100 halving events, while adopting community DAO governance. Reverse auction repurchase is the embodiment of this strategy-removing $ITL from circulation through community pricing rather than open market buying.
Currently, the project has more than 10 million verified users and thousands of ambassadors in multiple countries around the world.
