Data Lake is proud to announce its first buyback of LAKE token after the successful completion of our first data sale!
As outlined in our whitepaper, a percentage of our revenue from each data purchase is allocated towards buying LAKE tokens from the market. These tokens are subsequently distributed to our ecosystem stakeholders — including Data Donors — with a vesting period.
Thanks to our deal with an innovative healthcare startup here in Poland, we have used 3 ETH to purchase XX $LAKE from the market! This amounts to 100% of the total revenue of the closed deal, and will be assigned to a dedicated Data Donor’s token vesting pool.
We would like to emphasize that this buyback is just the beginning of our efforts to build the sustainable $LAKE tokenomics based on the data. While we have successfully completed our first data sale and subsequent buyback, we are already actively working on securing and completing larger deals which take longer to be completed because of volumes and complexity.
We appreciate your patience as we work towards becoming among the main consent-sourced medical data providers on the European continent!
Proof of Buyback
Transparency was one of the primary reasons we chose a public blockchain. Here is the transaction ID related to our LAKE buyback: https://etherscan.io/tx/0xc1214e9cd704558f0a067b519c67a4c40f5e67570791dc4221576235b49f8633
Become a Data Donor!
The successful conclusion of the first data sale and the LAKE token buyback are the first steps towards our goal of unlocking a fair and ethical market of consent-based medical data.
We are excited to continue rolling out more deals and advancing our platform, and we are thankful to each of our Data Donors for making this all possible. If you haven’t signed up yet, we renew our invitation to visit Global Medical Data Donation | Donate Your Data — depending on your country you will either be able to sign up as a data donor, or join the waiting list to be the first one to know when it becomes available in your area.
Onwards and Upwards!