Privacy startup Nym Technologies to buyback $1 million NYM tokens ahead of VPN launch
Quick Take Privacy startup Nym Technologies will buyback $1 million worth of NYM tokens. The company plans to launch its NymVPN in the coming weeks and will rely on the tokens to incentivize participation.

Nym Technologies, a privacy-focused Swiss startup backed by Andreessen Horowitz, will buyback $1 million worth of NYM tokens.
Token buybacks, a fairly common practice in crypto markets where a company repurchases its own tokens, aim to constrict supply and bolster the company's treasury.
"This buyback is not just about financial strategy; it's about preparing for growth," Nym CEO Harry Halpin said in a statement.
There are currently around 803 million (out of a total of 1 billion) NYM tokens in circulation, exchanging hands at around $0.06 per token, according to The Block's data page . The token is up over 7% over a 24-hour period. NYM tokens are used for incentivizing node operators, staking, governance and participating in the network's proof-of-mixing consensus mechanism.
The move comes ahead of the launch of the privacy-preserving NymVPN in mid-December. The system uses a decentralized relay network run by community members who are incentivized to join via NYM token payouts. It also incorporates a “Noise-Generating Mixnet” to shield web traffic.
“Network operators are rewarded in NYM for their services in anonymizing user traffic, and each user payment for NymVPN is converted into NYM tokens to delink a user’s payment from their usage of the app. Each new subscription means more NYM buy orders as well as fully anonymized VPN use,” the company wrote.
This initial buyback will also serve as a “trial run” of a “perpetual NYM buyback,” which will grow as NymVPN does.
“The entire point of the NYM token launch was to boot-strap the supply side of the decentralized network of servers that the NymVPN is built on,” Halpin said.
In addition to reward network operators, the funds from the buyback will go towards marketing efforts and expanding the Nym’s techstack.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Texas Bets Big on Bitcoin: State House Passes Bill to Build a Crypto War Chest
Nexchain Raises $2.6M in Presale As the Altcoin Market Starts Pumping Again
Nexchain has emerged as a standout contender, raising $2.6 million in its crypto presale thanks to its bold integration of AI and blockchain infrastructure. The project is rapidly advancing through its presale stages, with the listing price set at $0.3, providing an expected ROI of 600% for investors who buy right nowNexchain Crypto Presale Crosses $2.6M: Features And Presale TermsWhy Nexchain Is Attracting Investor AttentionThe Final Word

Whales Flock to BTFD as Floki Profits Resurface—Best New Meme Coin to Join This Week Before 8900% Spike!The Countdown Has BegunFind Out More:
There are just 5 days left to be part of 2025’s most electric meme coin presale. May 26 is your last chance to scoop tokens before BTFD hits the open market at $0.0006 on May 27. Once Stage 16 kicks in, that bonus is gone. Forever.BTFD Coin (BTFD) – Game On, Bulls!Floki Inu (FLOKI) – The One You Regret Missing

World Sells $135M in WLD Tokens to Early Investors to Support Orb ID Expansion

Trending news
MoreCrypto prices
More








