How the Reverse Auction Works InterLink Labs has officially launched Phase 1 of its Reverse Auction Buyback for $ITL, following approval from the InterLink Foundation. The submission window i
InterLink Labs has officially launched Phase 1 of its Reverse Auction Buyback for $ITL, following approval from the InterLink Foundation. The submission window is already open and runs until August 24, 2026, at 23:59 UTC.
Unlike a conventional buyback, where a project sets one fixed price for all participants, this format lets holders set their own terms. Each participant submits the amount of $ITL they wish to sell and the price per token they are willing to accept. Once the submission period closes, InterLink Labs will review all offers and prioritise the most competitive prices based on the treasury budget available. Submitting an offer does not guarantee selection.
To enter, participants must send a 0.1 $ITL deposit to the official InterLink Labs Treasury wallet. The deposit is designed to verify submissions and deter spam. Alongside it, participants must provide the transaction hash of that deposit and a BEP20 USDT wallet address. If an offer is not selected, the 0.1 $ITL deposit will be fully refunded.
Winners receive USDT directly to the BEP20 wallet address submitted with their offer. $ITL is the secondary token in InterLink's dual-token model, designated for external payments, liquidity provision, and institutional treasury use.
InterLink Labs says the $ITL tokens acquired through the buyback will not simply re-enter circulation. They will first be allocated to the upcoming First 10 Million Linkers Celebration Program. Any tokens that remain after that will be permanently burned, giving the buyback a dual purpose: supporting community activity and reducing overall token supply.
To help participants calibrate their asking price, InterLink Labs has also launched a live website displaying all submitted offers in real time. Holders can review the current range of prices before deciding on their own submission. One important caveat: the prices shown reflect participant-submitted asking prices only. They are not an official $ITL market price and do not guarantee a buyback price. The final selection will depend on the submitted offers, their validity, and the available treasury budget.
The Phase 1 deadline is August 24, 2026, at 23:59 UTC. Always verify submission details through official InterLink Labs channels before participating.
Sources:KuCoin: Interlink Network (ITLG) Token OverviewICOholder: InterLink (ITL) Project Details
