Announcement on DREP Foundation Buyback & Lock Program 2020 Q4

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Dear DREP Community,

We had completed the Buyback & Lock Program scheduled for 2020 Q4 as of 31st December 2020. Through this program, DREP Foundation had acquired a total of 151,423,352.42 DREP tokens (equivalent to $621,226.52) from the open market. They have been transferred to a lock up address visible to the public. Prior to the buyback in 2020 Q4, we have completed the buyback program in 2020 Q1 and locked 158,705,180 DREP tokens.

As a result of the buyback program in 2020 Q4, the market circulation has been reduced by 4%.

*151,423,352.42/(3,987,164,299–158,705,180)=4%

The lock-up address for the buyback program: 0x03ae3c6c9dc23923944a1268e75b69cc8a72352a

Lock-up Txid: 0x6182d551e79883f23e52ec2771903f0bc86021b485a3b35e9378133ba064035a

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DREP will also launch more of such buyback programs at different stages of ecology and application development. In the future, more consumption, lock-up and burn scenarios will be launched to achieve the long-term and healthy development of DREP Token economics.

Thanks for all DREP community members’ attention and support!

DREP Foundation

18th Jan. 2021

DREP Website : https://www.drep.org

DREP Telegram Global: https://t.me/drep_foundation

DREP Twitter Global : https://twitter.com/DrepOfficial

DREP Naver Blog Korea: https://blog.naver.com/drepkorea

DREP is a decentralized reputation ecosystem based on blockchain technology which empowers various Internet platforms to quantify and monetize reputation value.

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