Spheron, a community-driven platform for AI computing, announced the successful execution of its first $SPON token buyback and burn under its Secure Compute program.
What is the Secure Compute Program?
The Secure Compute program by Spheron aims to create a deflationary cycle around the $SPON token. This mechanism involves collateralizing GPUs with $SPON by providers and offering subsidized rates to users.
Details of the $SPON Buyback and Burn
As part of its first cycle, Spheron bought back 0.625% of the total $SPON supply for $500,000 at an $80M FDV. The tokens will be permanently burned upon receipt, creating a deflationary pressure on the asset.
The Future of Spheron and Its Ecosystem
Spheron continues to grow its user and provider base, boasting over 44,000 nodes and $100M in distributed compute. The buyback and burn program ensures providers are rewarded and users receive affordable compute resources.
The first buyback and burn cycle of $SPON confirms Spheron's strategy aimed at sustainable community growth and a compute economy.
