In today’s article we are announcing the process of Token Burn that will take place next week.
As you probably know, N1CE team created only 100 million tokens, and we locked 35 of them for 90 days — from June 18 to September 15. But why did we make such choice? We are keen about our investors, so we locked the tokens to boost more confidence in them, knowing that the N1CE Team could not carry out any operation using such tokens!
As stated in the Tokenomics section, with the release of the lock, we will have 35 million unlocked tokens for marketing, development, listing and brand growth, but we need to take care of the token price.
UPDATE: 5 000 000 N1CE Tokens (with a value of more than $73 000) were burned. See proof on BSCScan.
FIRST TOKEN BURN
To avoid an excessive price devaluation, we are pleased to announce the first Token Burn of 5 out of the 35 million unlocked tokens, which will happen right after the lock expires.
In terms of total supply, this is important because the remaining tokens in circulation (95 million), will increase in value. So, with parity of demand, the supply will diminish. The burn process will continue, in a more organic way, after the launch of the N1CE platform. In fact, at the time of their application, the platform will require each expert to allocate a certain amount of tokens, and we will burn 10% out of the aforementioned amount.
Do you need more information? Visit https://www.n1ce.community/whitepaper/