Interlink Concludes Phase 2 Of ITL Reverse Auction Buyback

@Inter_link has officially closed the second phase of its $ITL reverse auction buyback program, marking another step in the project's ongoing effort to manage token supply through open, competitive market participation.

How the Reverse Auction Works

Under the reverse auction model, $ITL holders submit bids indicating the quantity of tokens they wish to sell and their asking price. Phase 1 data published on the project's buyback portal recorded 737 offers, covering a total of 92,500 ITL available, with a median asking price of 20.00 USDT. After Phase 1 closed, approximately 20,000 ITL was approved for purchase based on the available treasury budget. Settlement is paid in USDT directly to participants' BEP20 wallets.

With Phase 2 now concluded, the core team is conducting a final assessment of all valid submissions to confirm they meet treasury standards before any purchases are processed.

Supply Reduction and Broader Tokenomics

The buyback program sits within a broader tokenomics framework designed to limit sell pressure. Interlink operates a dual-token economy. The primary token, ITLG (Interlink Genesis Token), is distributed to verified users through identity validation, referrals, and network participation, and functions as both a utility and governance asset. ITL, the secondary token, is designated for external payments, liquidity provision, and institutional treasury use.

Interlink is built on a Proof of Personhood consensus mechanism, using facial liveness detection to eliminate bots, fake accounts, and automated manipulation, ensuring network rewards go to authentic human participants. To further curb inflation, the project will implement up to 100 halving events and burn ITLG through on-chain activity.

The conclusion of Phase 2 signals continued execution of the team's treasury strategy. Token holders who submitted valid entries can expect a final determination once the review process is complete.

Sources:
InterLink Labs Reverse Auction Buyback Portal
Bitget Academy: What Is Interlink (ITLG)?
KuCoin Blog: Interlink Network (ITLG) Overview