PANews announced on March 18 that MyShell has released more details about the SHELL token buyback plan. A total of 8 million USDT generated from SHELL trading (buying and selling) has been frozen in the Binance accounts of the market makers; these assets will be used entirely for the SHELL buyback plan, which will be executed within 90 days. The buyback operation will provide stable support for the token value and instill confidence in investors; to ensure full transparency, all the bought-back SHELL tokens will be transferred to a 0x8d67-starting on-chain wallet after each buyback transaction.

Previously, on March 10, MyShell stated that it has terminated its cooperation with the non-compliant market maker and introduced a new partner, planning to conduct a SHELL buyback.