At the current market price of ETH (€177/ETH) the starting swap tranche of the reverse Dutch auction of the buy-back will be at 0.002824 ETH/GET.

With the first Ethereum main net sale on the 22nd of September the first buy-back of GET from the open market is upon us. This is necessary as in order to fuel the blockchain-registered smart tickets, event organizers like Carré need GET. This blog will specify the details on the buy-back and its scheduling. In Q4 of this year another buy-back will be conducted, this blog is about the buy-back in Q3.

The buy-back auction should not be confused with the mainnet launch on Saturday 22 September.

The GET that will be bought back during the buy-back on September 30th, will be used to fuel the tickets of the 36 theater shows going on sale on the 22nd. GET Protocol event cycle buy-backs always occur after a ticket sale is completed!

For a more high-level view on how the buy-back method works token-economically in the GET Protocol check out the blog below: