PANews reported on November 6 that the privacy network project Nym announced that it would repurchase $1 million worth of NYM tokens to enhance Nym's financial reserves and improve the network in preparation for the upcoming launch of NymVPN on December 12. This round of token repurchase aims to reduce excess supply in the market and make the price of NYM tokens better reflect actual demand. Harry Halpin, CEO of Nym, said that this repurchase will be the beginning of a continuous repurchase mechanism initiated by NymVPN through user payments.
In the next month, Nym plans to repurchase up to 20 million NYM and use it for core development goals, including increasing market awareness of NymVPN, incentivizing network operators, and providing services with higher privacy protection for journalists and activists. The launch of NymVPN will provide users with unique decentralized privacy protection, using Noise-Generating Mixnet technology to resist AI surveillance. Halpin will showcase the latest version of NymVPN at conferences such as WebSummit and DevCon, and will open a one-month free trial.
