According to Foresight News , the privacy-preserving computing network Nillion tweeted, "The price of NIL tokens previously fluctuated due to a sell-off by market makers. After a full assessment of the situation, we initiated an initial buyback program. However, when volatility and trading volume surged to all-time highs, trading conditions became unsustainable. To avoid exacerbating market turmoil, we suspended the buyback program after purchasing 1.1 million NIL."
We are nearing completion of a comprehensive, structured buyback program. This program is being developed in collaboration with Flow Desk's other market-making partners to ensure that the buyback operations comply with market rules, proceed in an orderly manner, and do not trigger new market volatility. Furthermore, we are accelerating the transition to new market makers. These new partners will be subject to stricter controls, clearer oversight mechanisms, and a specially designed framework to prevent a recurrence of such events.
