Coin Token Updates
Happy holidays to you and all of your loved ones around the world! We wanted to provide an update regarding to token events:
- $COIN airdrop for previous security token holders
- $COIN token burn
For all previous holders of $COIN, we completed an airdrop of 2% of the total token supply. More specifically, we used 2% (2,142,857) of the total token supply of 107,142,857 and distributed that amongst the old token holders to demonstrate our appreciation for your continued support through the years. The distribution was in accordance with current balance and did not include any corporate addresses. This resulted in a ~17% token bonus. For accurate accounting, previous token holders received the old $COIN security token which will require an upgrade to the $COIN utility token next week to become liquid and active.
While unconfirmed, we expect a percentage of the wallet addresses to be dormant from lost keys, etc. as the previous audience also included bounty participants. Inactive wallet addresses holding $COIN does have an impact to the circulating supply as dormant wallets and tokens will not be in circulation. While we know that the $COIN circulating supply will be lower than the previously stated 42M, we will have a better estimation on this following the upgrade of older tokens next week.
Segway to the total token supply, we have also completed a burn of 7,142,857. This can be validated by the following transaction ID: https://etherscan.io/tx/0x9cbe8af4de7490a68bf78c0a362eaa153226bef8f22c889578b0aec0b6ac32b4
This brings the total $COIN token supply to 100M. We have submitted a request with Etherscan to update this data accordingly. Once this is completed, we will have this updated in Coinmarketcap and CoinGecko as well.
This means all token distributions and airdrops have been completed and accounted for.
In addition to these events, and aside from the current methods through which you can use $COIN, we are continuing to work with the Coin community to find more ways to create utility with the $COIN token. Additionally, exploring additional rewards for token holders including complimentary utility NFT’s and more. As a community, we continue to welcome all feedback as we look to grow our mission together.
Look forward to another announcement soon regarding the MainNet release of Coin Exchange. Once again, happy holidays to you and your loved ones. In a year filled with pain and plague, we wish you all peace, prosperity, and positivity.
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