TORONTO, July 02, 2025 (GLOBE NEWSWIRE) -- Blockmate Ventures Inc (TSX.V: MATE) (OTCQB: MATEF) (FSE: 8MH1) (“Blockmate” or the “Company”) is pleased to announce that its investee, Hivello Holdings, has completed the first batch of its quarterly Buy & Burn initiative, removing 13.5 million $HVLO tokens from circulation.
The Buy & Burn initiative is funded by Hivello, allocating a percentage of quarterly revenue to buying back HVLO and burning them. By removing them from circulation, it is intended to increase the value of HVLO in the open market while increasing the rewards for Hivello platform users.
This inaugural reduction in supply underscores Hivello's commitment to its community and the health of its ecosystem, while reinforcing long-term incentives for users earning passive income from the platform in exchange for their unutilised computing power.
Justin Rosenberg, CEO of Blockmate Ventures, commented, “We are delighted to see the Hivello team’s commitment to long-term stability and value creation through the first of many Buy & Burn batches. Over time, as more revenue is directed towards this value growth driver, we see excellent reward opportunities for early adopters of the Hivello platform and HVLO.”
Below are the recent press releases from Hivello:
Hivello Strengthens Ecosystem with Initial 13.5M $HVLO Token Buy & Burn
LONDON and AMSTERDAM, June 30, 2025 -- Hivello, a DePIN aggregator that enables everyone to earn by monetizing idle (computing) resources across multiple DePINs (Decentralized Physical Infrastructure Networks), today announced the official commencement of its token buyback and burn program, a strategic initiative designed to ensure the long-term stability and value of the HVLO token within its growing ecosystem.
In accordance with its tokenomics model, Hivello will continuously buy back $HVLO tokens using revenue generated by the Hivello network. These tokens will then be permanently removed from circulation through a burn process.
The inaugural burn event took place this morning, Monday, June 30, 2025, with 13,500,000 HVLO tokens being successfully and permanently removed from supply. All on-chain records are available in Hivello’s Discord community.
This inaugural reduction in supply underscores Hivello's commitment to its community and the health of its ecosystem.
"The launch of our buy back & burn program is an important inflection point for Hivello as we move closer to expanded growth and token stability," said Domenic Carosa, Co-Founder & Chairman of Hivello. "By consistently reducing the supply of HVLO tokens with revenue generated from our network, we're building a robust foundation that benefits all participants in the Hivello ecosystem."
This program is a core component of Hivello's broader strategy to create a deflationary mechanism for the HVLO token, fostering a healthy and vibrant economic environment for its users and investors. The continuous burning of tokens will contribute to increased scarcity and, in turn, enhance the long-term value proposition of HVLO.
About Blockmate Ventures Inc.
Blockmate Ventures (TSX.V: MATE) is a Blockchain & Web3 venture builder investing in and operating scalable blockchain, mining, and digital infrastructure companies. From decentralized computing with Hivello to Blockmate Mining, the Company’s portfolio provides investors with diversified exposure to emerging sectors within Web3 and beyond.
About Hivello
Hivello is an aggregator of DePIN projects that allows any user to participate in a variety of DePIN networks with just a few clicks. This eliminates the technical hurdles that many users face when trying to join these networks, and allows users to earn passive income by mobilizing their idle computers.We aim to create a simple app that allows users to contribute their computer resources and earn passive income, with no technical knowledge required. It's as easy as downloading, installing, and running nodes, making complex technologies accessible and beneficial to all.
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ON BEHALF OF THE BOARD OF DIRECTORS
Justin Rosenberg, CEO
Blockmate Ventures Inc
justin@blockmate.com
(+1-580-262-6130)
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