A buyback, in plain English, is when an issuer purchases tokens back from holders at a stated price, on a stated date, in a stated currency. None of those three components survived contact with June 1.
UPDATE — June 3, 2026: still no buyback, price now halving, selling pushed to June 30
Three days after the "June 1 buyback," holders still cannot sell. Admin, June 3, 10:00 UTC: "You cannot sell as of now." Three further developments since publication:
- The buyback price is now halving phase by phase. June 2 marketing: "SELL BDAG FOR $0.01 - FINAL 24 HOURS. After this phase, the planned buyback price moves to $0.005." Admin: "Toy was limited offer for $0.02. Now it is $0.01." Three tiers in 48 hours ($0.02 expired, $0.01 now, $0.005 next). A real buyback floor is a fixed commitment. A halving price is a countdown timer.
- Selling is now deferred to June 30. Admin June 2: "The final phase is scheduled for June 30, 2026. You can sell only after that." The actual liquidity event has been pushed a full month past the date it was sold on, joining the $25M deployment and the "final TGE" already parked on June 30.
- A payout-calculation discrepancy. Community member Adriano Toledo: "The Blockdag buyback value is calculated at a final rate of half a US dollar ($0.01), half of what you are advertising. Do the math." The dashboard pays out less than the headline rate.
The post
From the official BlockDAG Telegram channel at 18:49 UTC on June 1, 2026:
"🚨SELL YOUR BDAG FOR $0.01 | 48H ONLY!! BUY NOW & REGISTER. Power Activation Week is HERE. BDAG Stablecoin Beta GOING LIVE. Buyback Registration OPEN. For the next 48 HOURS ONLY, eligible holders can register to sell accepted BDAG at $0.01 PER BDAG. AFTER THAT THE BUYBACK PRICE WILL BE $0.00..." — BlockDAG official channel, June 1, 2026, 18:49 UTC.
Four substantive changes from the version marketed since May 16 land in this single post. Each is the subject of a section below.
Change 1: a registration form, not a payout
The project marketed the buyback for over two weeks as "sell your BDAG at $0.001." The June 1 version is not a sale. It is an intake form. At 19:24 UTC the admin clarified:
"You can't sell at the moment. You can only register for now and wait for further information." — BlockDAG official admin, June 1, 2026, 19:24 UTC.
At 21:22 UTC: "Registration is on before the buyback commenced." This is a structural change. A buyback that "commences" after a registration window means the actual purchase, the actual price, and the actual treasury wallet remain unspecified at the time holders are asked to commit. Holders are now told to register a sell intention and trust the team to honour it later. The community read this immediately. Logan J. Williams (19:41 UTC): "Did I read this correctly? To sell our BDAG we have to buy now again to register? How does this work." Craig Smith (19:12 UTC): "Lol buy now to register, what about all the buys already made."
Change 2: the headline price is now $0.01, not $0.001 — but you have to buy more
The marketing graphic introduces a NEW price tier: $0.01 per BDAG, ten times higher than the $0.001 number BlockDAG marketed for two weeks. There is a catch. The $0.01 tier is for "BDAG purchased during the registration window." In other words: existing holders, who bought BDAG between 2024 and May 31 at presale, aftersale or exchange prices, do not get $0.01. Only buyers who purchase additional BDAG between June 1 and June 3 qualify for the $0.01 tier. Everyone else gets the lower, unspecified price (the marketing graphic is truncated; "AFTER THAT THE BUYBACK PRICE WILL BE $0.00" is consistent with the original $0.001 number, or lower).
Community member Yasuke at 19:15–19:16 UTC: "I thought it was advertised as 0.01 purchases before June 1. So apparently everyone who bought before June 1st is not eligible for 0.01 buyback." Erik G at 18:55 UTC: "does the swap with 30% off buying now count towards the buyback 0.01?" The single-largest cohort of BDAG holders, the people the buyback was originally pitched at, find on the day of execution that they are not the cohort being bought back.
Change 3: the payout is in BDUSD, not USDT
The same June 1 post launched "BDAG Stablecoin Beta" at stablecoin.blockdag.network. The admin at 18:49 UTC: "BDUSD is BDAG official stable coin." This is the currency the buyback pays out in. Three problems.
What BDUSD is, and what it isn't
- It is "Beta." The official launch wording is "Stablecoin Beta GOING LIVE" — a soft launch label, not a production stablecoin.
- No reserve attestation was published. A stablecoin's value depends on whether reserves cover all issued tokens at the peg. BlockDAG published no auditor, no reserve composition, no custodian, no monthly attestation schedule.
- No published redemption path. A USDT-pegged stablecoin needs a way for holders to convert it back to actual USDT or fiat at any time. BlockDAG has not stated this mechanism. Community member Pedro at 19:07 UTC: "Be careful, from what I've read they're going to give you BDUSD, not USDT or USDC. And that's even worse. Where will you exchange it?"
The structure that emerges is a closed loop. BDAG holders are asked to convert their BDAG (down 99.86% from the $0.05 launch promise) into BDUSD (untested, no liquidity, issued by the same project). The "buyback" never leaves the BlockDAG balance sheet. BlockDAG hands holders a new token IOU; what the holder can do with that IOU outside the BlockDAG ecosystem is undefined.
Change 4: exchange buyers are excluded
Asked directly whether BDAG bought on exchanges qualifies for the buyback, admin replies on June 1:
"Yes! Only purchase made from the official website will be eligible." — BlockDAG official admin, June 1, 2026, 18:46 UTC.
"No Omni, only BDAG coins purchased from the official website." — BlockDAG official admin, June 1, 2026, 19:00 UTC.
This is, to our knowledge, the first time BlockDAG has formally distinguished "website BDAG" from "exchange BDAG" for the purpose of receiving project-side benefits. The exchanges have been the headline product since 2024. The project marketed "20 exchange listings" before launch, promoted LBank, BitMart and Coinstore as launch venues, and pitched listings as the legitimacy signal that justified the presale. On the day of the buyback, the implicit position is that exchange BDAG and website BDAG are different assets, only one of which the team will buy back. Anyone who bought BDAG on Poloniex, LBank, BitMart, BTSE, P2B, BTCC or Coinstore is on their own.
The marketing trail behind us
What BlockDAG marketed vs what shipped on June 1
| Marketing | What launched June 1 |
|---|---|
| "$0.001 buyback at June 1" | $0.01 tier requiring new purchases. $0.001 for existing holders, no date. |
| "USDT-pegged stablecoin" | BDUSD "Beta" — project's own untested token, no reserve audit |
| "$25M liquidity deployment" | "Liquidity will gradually be injected" (admin June 2 08:49 UTC) |
| "Daily burns" | "Next burning event will be announced" (admin June 1 21:12 UTC) |
| "$10,000 lottery draw for first 500 holders" | Sparks "JACKPOT 10,000,000 TURBO coming" replaces it |
| "300X / 350X / 400X / 500X ROI" | Conditional, capped, payable in BDUSD, no execution date |
| "Exchange listings are the legitimacy" | Exchange BDAG excluded from buyback |
What this 14-hour window added to the record
June 1 18:49 UTC to June 2 09:25 UTC — confirmed by direct quotes
- Buyback announced as a registration form, not a payout, with a 48-hour window to "register"
- Headline price $0.01 introduced for newly purchased BDAG only; presale, aftersale and exchange BDAG remain on the lower tier
- BDUSD stablecoin launched as "Beta" with no reserve attestation or redemption mechanism
- Exchange-purchased BDAG explicitly excluded from buyback eligibility
- $25M liquidity deployment rephrased to "gradually injected" with no date
- Daily burns programme punted to "next burning event will be announced"
- Sparks 10M TURBO jackpot launched as the day-of distraction
- Miner shipping "this month" for the ninth date change
- Promise tracker: 106 broken or misleading of 113 tracked (93.8% failure)
What we are watching next
Five items. First: whether the buyback actually executes within the 48-hour window, or whether June 3 ends with another "registration extension" or "soon." Second: whether anyone documents a successful $0.01 sell, with the on-chain transaction hash showing BDAG out and a real stablecoin in. Third: whether BDUSD reserves get an audit before anyone is asked to hold it. Fourth: whether the rule excluding exchange buyers gets reversed under community pressure. Fifth: whether the second "burn" event arrives at all this month, given the first one was followed by CMC supply rising +1.54B and BlockDAG now asking CMC to change the number.