> For the complete documentation index, see [llms.txt](https://docs.hunt.town/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.hunt.town/hunt/buyback-and-burn.md).

# Buyback & Burn

The quarterly buyback-and-burn program ran from 2020 to 2022 and has ended. Some HUNT is still burned in other ways, such as the HUNT burned for each Co-op project update.

## The historical record

Since 2020, **16 recorded supply changes** have permanently removed **301,087,312 HUNT**, roughly 60% of the original 500,000,000 issuance. Every entry except the 88 HUNT reconciliation has a public record, most as an Ethereum transaction.

| Category                                      | HUNT removed    | What it was                                                                       |
| --------------------------------------------- | --------------- | --------------------------------------------------------------------------------- |
| End of ecosystem bounties (2020)              | 186,578,670     | Retirement of the unissued bounty allocation                                      |
| Team allocation & second-round funding (2020) | 100,000,000     | Retirement of the corresponding allocation                                        |
| HUNT → MINT swaps (2021)                      | 10,775,286      | Community (7,183,524) and team matching (3,591,762) swaps at the Mint Club launch |
| Quarterly fee-revenue burns (2020 to 2022)    | 3,733,268       | 11 quarterly burns funded by non-HUNT fee revenue                                 |
| Historical supply reconciliation              | 88              | Residual closing the historical entries to canonical supply                       |
| **Total**                                     | **301,087,312** | 16 recorded changes                                                               |

The two large 2020 entries are structural: they retired allocations rather than buying tokens back from the market. The quarterly entries from 2020 to 2022 removed supply using revenue the products actually earned.

### Every recorded change

Newest first. USD values are at the time of each event, rounded to the nearest dollar. Totals are rounded to the nearest whole HUNT.

| Date       | Event                                  | HUNT removed    | USD value at execution | Record                                                                                                    |
| ---------- | -------------------------------------- | --------------- | ---------------------- | --------------------------------------------------------------------------------------------------------- |
| 2022-10-04 | Q3 2022 non-HUNT fee revenue           | 55,349          | $19,934                | [Transaction](https://etherscan.io/tx/0xd53c602f71d6908006b9ea92996b1bb5444e26f293c9e6e37d2a468c4b7abdf4) |
| 2022-07-01 | Q2 2022 non-HUNT fee revenue           | 47,690          | $20,473                | [Transaction](https://etherscan.io/tx/0xd9c90ddd1ef9145de556335cb41fa26a31ca928318c493c77ba546895f0308d1) |
| 2022-04-01 | Q1 2022 non-HUNT fee revenue           | 26,264          | $30,729                | [Transaction](https://etherscan.io/tx/0x09608c5448a609757f4d1469527190f5b270296441113b2a319ebf25e1e97c3a) |
| 2022-01-03 | Q4 2021 non-HUNT fee revenue           | 62,729.9        | $55,088                | [Transaction](https://etherscan.io/tx/0x497939a96c04303438f21916be02d05d9b427b1ddd0dda001a07e29b5e1e3567) |
| 2021-10-01 | Q3 2021 non-HUNT fee revenue           | 37,267          | $26,976                | [Transaction](https://etherscan.io/tx/0xfa77762598a7306a9e2fd180ddc6a040ab0f68209ffc6fceda0da30d2192947a) |
| 2021-07-14 | Q2 2021 non-HUNT fee revenue           | 82,759          | $30,621                | [Transaction](https://etherscan.io/tx/0x79279dc2a319931532036d3de570920a7c21e4cb35623edefedf97b7c50af855) |
| 2021-06-29 | Team matching HUNT → MINT swap         | 3,591,762       | $616,573               | [Transaction](https://etherscan.io/tx/0xbf05e3c10ff6ede26f0e277c4278928169ec539529311d5c2001cd0455e877ce) |
| 2021-06-29 | Community HUNT → MINT swap             | 7,183,524       | $1,233,145             | [Announcement](https://steemit.com/mintclub/@steemhunt/mint-club-pre-sign-up-finished-with-huge-success)  |
| 2021-03-31 | Q1 2021 non-HUNT fee revenue           | 31,989          | $15,171                | [Transaction](https://etherscan.io/tx/0x6cc575bd491097b8339c9b9cced75c0061f1a04ea1d1df3b03f8123dc05ae709) |
| 2021-01-04 | Q4 2020 non-HUNT fee revenue           | 96,994          | $6,479                 | [Transaction](https://etherscan.io/tx/0x02f30992b3e526ec030ced44ef368aed4b5e2d21ba4d68cc68aab9268cddc2d5) |
| 2020-10-08 | Q3 2020 non-HUNT fee revenue           | 112,357         | $6,123                 | [Transaction](https://etherscan.io/tx/0x63d1f36d2bf44106b39f1822d0f3e0175a140ff83ae5e43f22b7734d6c3deb36) |
| 2020-09-17 | Team allocation & second-round funding | 100,000,000     | $9,129,100             | [Transaction](https://etherscan.io/tx/0x6b19e31b94f28af6f47525a485136ee9dc332d1feb8e0d387bc687f614f70343) |
| 2020-06-12 | End of ecosystem bounties              | 186,578,670     | $433,523               | [Transaction](https://etherscan.io/tx/0x2b7d8383c94a8964c93e7d3f3f18d4be58533e03c4aa8c6db396301879c8d41c) |
| 2020-06-01 | Q2 2020 non-HUNT fee revenue           | 1,868,664       | $5,126                 | [Transaction](https://etherscan.io/tx/0xde774b055ec22a8e1755b53274ac032e317167b9276f3ea54c2ed57c0c45e139) |
| 2020-05-27 | Q1 2020 non-HUNT fee revenue           | 1,311,205       | $2,673                 | [Transaction](https://etherscan.io/tx/0x142a1b5b51d9d77f74480b6c525cc354b07983dee7e9cb5cabb1eb88eacb6b76) |
| 2020-05-27 | Historical supply reconciliation       | 88              | Not recorded           | None                                                                                                      |
|            | **Total**                              | **301,087,312** |                        |                                                                                                           |

The 88 HUNT reconciliation has no transaction of its own. It is the residual in the team's HUNT supply workbook that closes the historical entries to the canonical supply.

## The buyback-and-burn program has ended

Product revenue now buys HUNT for the [Factory NFT](/factory-nft/overview.md) instead of burning it. That HUNT goes into the Factory NFT contract, where it raises the NAV per NFT for every holder. See [The NAV Vault](/factory-nft/nav-vault.md).

Unlike burned HUNT, HUNT in the Factory NFT still exists: it backs the NFTs and counts as locked in [Supply & Distribution](/hunt/supply.md).

There is no schedule for these purchases and no fixed amount. Nothing here is a commitment to buy, a yield, or a return. See [Terms](/terms.md).