On 30 May 2018, we performed our latest token burn. For those who want to read more about how and why we burn tokens, you can read the article here.
But before that, we have another important announcement.
Due to the recent market conditions, we have taken a decision to pause the coin offering. It is for the benefit of the existing investors as well as the company. Many other ICOs have been paused, and we hope to weather it out till the market is conducive again. We will start offering tokens from our platform directly once the market is in a better shape, and we will keep you updated about the same.
Coming back to the token burn.
For the month of May, we burnt more tokens than what we did previously. And the reason is, we have an additional component of tokens that were collectively burnt. There are three components of this token burn. We burnt pre-set tokens from the ICO, unsold tokens from the CCO, and the unutilised tokens allocated for stakeholders, for instance, the bounty programme.
Let’s have a look at the token burn in detail.
Token burn for the end of May
On 30 May 2018, we burnt a total of 5.77B tokens. This is a summary of the token burn for May
ICO Tokens 1,000,000,000
CCO May 2,000,000,004
CCO June 2,000,000,005
Stakeholders, March 109,509,671
Stakeholders, April 180,829,535
Stakeholders, May 240,000,022
Stakeholders, June 240,000,022
This brings the total to 5,770,339,259.
The transactions may be viewed here:
As we progress through the next phase of coin offering, we will update you on the future token burns.
Why is it important?
Token burns reduce the total number of circulating tokens. It Drives up the demand, and thus the value. So if you are a PCL investor, this will benefit you greatly. And even more so, as we have launched our first product – AskEVE (AIEVE beta) yesterday. If you have any questions, feel free to write to us on [email protected] and we will be happy to answer your questions.