Big token burn events
More than 20% of current max supply will be burned. It is 1 out of every 5 tokens and more than 2 000 000 USD that will be burned. The new maximum supply will equal to 56 million tokens, about half of them already in circulation.
The token burn event will happen in two steps:
- December 1st 2021: 10% (about 7M) of the total supply will be burned.
- January 5th 2022: another 10% (about 7M) of the total supply will be burned.
As Etherland advances in its development, the large amount of tokens allocated to the platform and IT development is no longer needed.
As a result, some token burn events will happen at the end of the year.
The burning events will affect only the biggest wallet: who will see its holding decrease by nearly 50% to 17,126,937 tokens.
Current Allocation before the burning event:
- Current Maximum Supply: 70,686,070
- Amount of tokens to be burned: 14,686,070
- New Maximum Supply: 56,000,000
- Current Circulating Supply: 23,653,941
New Allocation after the burning event:
- Etherland: 5,202,109
- Agricultural Land Application: 3,973,737
- Initial DEX Offering : 1,804,701
- Reserve: 9,999,999
- Team and Advisors: 3,414,421
- User Rewards Reserve: 5,300,728
- Carbon Credit Reward: 2,650,364
Depending on the product development and adoption, the full maximum supply will be in circulation by 2030. Other token burning events could eventually happen to meet this schedule.