As we gear up for next week’s launch, we’ve just completed our final burning event on the v1 CARBO network. A total of over 16.75 million CARBO tokens have been burned, permanently removing them from circulation.
See in BSCScan
Here are the two key reasons behind this significant event:
Aligning Both Networks
As many of you remember, our new token and its platform were developed last year. However, we postponed the launch due to uncertainties surrounding the physical aspects of CleanCarbon and the project’s direction. CARBO v2 was created with 80 million tokens pre-burned, anticipating further burning events before the end of last year. We later shifted our strategy to distributing airdrops to the community, instead of burning, believing it would have a more positive impact. Nonetheless, it was crucial to align the number of burned tokens across both networks before the launch to ensure consistency from the outset.
Enhanced Tokenomics
Another motive for burning such a significant number of tokens was to refine the project’s economy. This adjustment aims to increase the percentage of CARBO held by the community and decrease the percentage held by the company. Recall that not all CARBO allocated for public sale were sold during our two presale phases. These unsold tokens were gradually burned in past events. Moving forward with the v2 network, our strategy will evolve: only tokens acquired through regular buybacks will be burned. This method is intended to more accurately reflect the true value of our actions by only removing tokens from circulation that were actively purchased.
This final burning event is an important step toward further enhancements of the project. We are excited to continue implementing changes before and after the launch, marking a new chapter in our journey.
