Grvt Completes First Buyback, Burning 1.1 Million GRVT Tokens

Grvt’s token issuer completed its first buyback and burn, removing 1.1 million GRVT tokens from supply as the trading platform prepares new yield and derivatives features through November.

The tokens represented 0.96% of circulating supply and 0.11% of total supply. The two percentages measure the burn against the circulating portion and the full supply, respectively.

The purchase used part of the app’s gross profit. The issuer intends to continue buying tokens in monthly rounds, although the Foundation retains discretion over each round’s size and timing. That leaves future purchases without a set amount or execution date.

“The size of each round is at the Foundation’s discretion and will vary,” Grvt co-founder and CEO Hong Yea wrote.

GRVT gives holders fee and product-access benefits. The token does not confer equity in Grvt or a right to its revenue or profit, so the buyback changes the token supply without changing the rights attached to it.

Grvt plans to launch a new Earn product by the end of October. It targets a yield of up to 11% from tokenized assets, but that return is not guaranteed. Grvt plans to name the asset-supplying partners when the product launches, ahead of the planned November trading additions.

The new product would add to Grvt’s existing yield offering. Its Earn on Equity program offers a 3.5% base annual percentage yield on eligible stablecoin balances.

In November, Grvt plans to introduce perpetual futures tied to stocks, currencies, commodities and indexes. The contracts are planned to have no trading fees, with funding charged once a day. The company also plans to let eligible Earn balances serve as trading margin while continuing to accrue yield.

Grvt aims to bring the features into a redesigned Grvt 2.0 app by the end of November. The platform currently offers about 200 markets and aims to list more than 1,000 names by the end of December 2026.