



There are a lot of private firms and individuals showing interest in COVALENT. Let’s find out about cova token buyback plan.





Covalent team has been working consistently to build the world first Blockchain based solution to data privacy and trade issues. This era comes with huge hurdles, especially when trying to build a protocol which would be the backbone of a smart data dApp Ecosystem and internet. The team has suddenly built a great community and attracted lots of partners within and outside the cryptoSpace who are excited to adopt Covalent smart data protocol. Consistent promotions, a hardworking team, reward to the community, great partnerships and a smart team explains the growing interest in COVA token by Blockchain investors, cryptotraders and CryptoCurrency hodlers.





Covalent team who has been consistent in attending various Blockchain and data privacy conferences, slowly and steadily creating awareness about a safe and decentralized data marketplace made a huge announcement this week. Taking the first steps to set a standard in the Crypto space and reward early investors and COVA token hodlers, COVA Management Team announced their new strategy to return value to $COVA, while they set up a COVA DApp Ecosystem Fund.

On Jan. 23th, 2019, Covalent Foundation announced its 150MM COVA token buyback. During the buyback, Covalent Management would purchase 150MM COVA Tokens, this reduces the number of its COVA Tokens in the open market. Most Project teams buy back their token for a number of reasons, such as to increase the value of tokens still available by reducing the supply or to keep it decentralized, eliminate any threats by whales who may be looking to own a controlling amount of these token.

Covalent token buyback program has three phases: the phase one started on the 23rd January, while dates for phase II and III would be announced subsequently. About 50 million COVA which officially is currently trading on Huobi.com and BitMax.io, would be purchased from the secondary market during the phase I. Instead of the usual token burn, these tokens, within the next five days, will be used to set up a COVA DApp Ecosystem Fund. The tokens for these fund will be stored in a publicly announced address at the end of Phase One.

Details on the phase II and III would be announced at appropriate times on Covalent Blog.

Although the collective value of cryptocurrencies has risen sharply in recent years, Adoption still remains a hurdle for most projects. Covalent cofounder, Vincent, also talked about Covalent plan to breach that gap by building an Ecosystem known as, Cova dApp Ecosystem. This would bring useful mobile DApps directly to the consumers, allowing users to spend COVA on such activities as playing games, or unlocking visual contents. The Ecosystem will become a premier entertainment platform for the crypto generation.

Finally, I hope that through the token buy-backs, more value is created for long term COVA Hodlers and early investors. If you missed out on the first phase, then don’t miss next Covalent announcements and get ready for the next phase.

Follow Covalent on their various media channels for more information:

Blog: http://blog.covalent.ai Website: http://www.covalent.ai Telegram: https://t.me/covalentofficial Twitter: https://twitter.com/covatoken Medium: https://medium.com/@covatoken Reddit: https://www.reddit.com/r/Covalent_Official/ Github: https://github.com/covalent-hq/wiki/wiki