ChainCatcher news, Nym Technologies, supported by a16z, will repurchase $1 million worth of NYM tokens, aiming to limit supply and enhance the company's treasury.Nym CEO Harry Halpin stated in a press release: "This repurchase is not just about financial strategy, but about preparing for growth."According to The Block's data page, there are currently approximately 803 million NYM tokens in circulation (out of a total of 1 billion), with a trading price of around $0.06. NYM has risen over 7% in the last 24 hours. NYM is used to incentivize node operators, staking, governance, and participating in the network's hybrid proof-of-consensus mechanism.This initial repurchase will also serve as a "trial run" for the "permanent NYM repurchase," which will grow alongside the development of NymVPN (expected to launch in mid-December). In addition to rewarding network operators, the funds from the repurchase will also be used for marketing efforts and expanding Nym's technology stack.