Fake World Assets, a company known for its digital asset management platform, has announced revisions to its share buyback program following widespread criticism from its user community. The original program, unveiled earlier this month, was met with sharp pushback over concerns it would disproportionately benefit large holders and dilute smaller investors.
What the original program proposed
The initial buyback plan allowed the company to repurchase up to 10% of its outstanding tokens over a six-month period. But critics argued the structure lacked transparency and gave insiders an unfair advantage. Community forums and social media channels filled with complaints, and a petition calling for changes gathered thousands of signatures within days.
How the backlash unfolded
The backlash was swift. Within 48 hours of the announcement, several prominent community members publicly urged the company to pause the program. They pointed to a lack of clear criteria for how tokens would be bought back and at what price. Some accused the firm of trying to prop up the token price artificially before a planned unlock of large holder tokens.
Fake World Assets initially defended the program, saying it was designed to reduce circulating supply and reward long-term holders. But as the criticism grew louder and spread to mainstream crypto media, the company reversed course.
What changed in the revised plan
The revised buyback program, published late Wednesday, includes several key changes. The company will now buy back tokens only from a decentralized exchange pool, using a transparent algorithm that publishes each transaction in real time. The total buyback amount remains at 10% of the token supply, but the timeline has been extended to 12 months to avoid market manipulation concerns.
The company said it will not participate in the buyback itself, addressing fears that insiders could sell into the program. A community oversight committee will be formed to monitor the process, though the company has not yet named its members.
Community reaction to the revision
Reaction has been mixed. Some users praised the company for listening and making the program more equitable. Others remain skeptical, noting that the revised plan still lacks a clear mechanism for price discovery. One community member wrote on the official forum: “It’s better than before, but I’ll believe it when I see the first buyback transaction on-chain.”
The company’s token price, which had dropped 15% after the initial backlash, recovered about half of that loss following the revision announcement.
What happens next
The revised buyback program is set to begin on March 1. The company has promised to publish a detailed implementation plan within two weeks. Whether that will be enough to restore full community trust remains an open question.
