Binance

CREAM project burns 67.5% of all its tokens

Navigation

Прожарка CREAM Finance. Стоит ли Инвестировать, Обзор Cream Lending, CreamYusd Swap, Cream Rewards?

CREAM project burns 67.5% of all its tokens

CREAM project burns 67.5% of all its tokens
CONTENT

  • September 20, platform C.R.E.A.M. burns 67.5% of the total supply of project tokens.

  • 100% of control tokens and 75% of seed investor tokens will be burned.

  • This move is expected to increase the confidence of token holders in the long-term sustainability of the project..

International consortium of news organizations developing transparency standards.

C.R.E.A.M. platform announced its intention to burn the lion’s share of the project’s tokens on September 20 – 67.5%, or 6,075,000 CREAM.

CREAM project burns 67.5% of all its tokens

C.R.E.A.M Decentralized Exchange and Lending Platform yesterday notified its clients that on September 20, 2020, she would burn a significant part of the project’s tokens. In a released statement, CREAM management announced that 6,075,000 CREAM tokens will be burned. This represents 67.5% of the total supply of coins..

Onward and upward

The name of the platform is an optimistic acronym for the expression “Crypto Rules Everything Around Me” (Crypto rules everything around me). At the moment, the platform, developed on the basis of the decentralized protocols Balancer and Compound Finance, is in beta testing phase. Over time, its founders hope to form a mature ecosystem that includes both a fully decentralized exchange and a lending platform..

“We just keep growing. No one can stop us! “, – the project team commented on their decision in a post on Twitter.

Well, we just keep building. No one can stop us! https://t.co/VMfhMjT3Ft

– Jeremy Yang (@JeremyYangHD) September 19, 2020

Do you want to keep abreast of the latest news from the crypto industry? Join the discussion in our Telegram channel – and you will find out everything!

CREAM project burns 67.5% of all its tokens

According to CREAM, the platform’s user community agreed that burning tokens should be beneficial for the ecosystem. However, there was disagreement among the participants about the number of tokens that should be burned. As a result of discussions and discussion of various proposals, key community members were still able to reach the following consensus:

Source: CREAM

According to the CREAM management, this decision should confirm confidence in the long-term development potential of the project, as well as demonstrate to CREAM token holders that short-term rate pumping is not among the team’s priorities..

What will happen in the end

Also, the purpose of this step was the desire to eliminate the imbalance due to which the excessive surplus of tokens was not in circulation..

According to CREAM, the burning process will not in any way affect the coins currently in circulation. Their number is now 149 928 CREAM.

Source: CoinMarketCap

All 6,075,000 tokens to be burned will be generated exclusively from governance tokens and seed tokens.

CREAM project burns 67.5% of all its tokens

Management tokens will be burned 100%, and investors who financed the project at the seed stage agreed to liquidate 75% of their tokens. In this regard, the CREAM management expressed great gratitude to them for such a sacrifice and loyal support of the project..

In general, as summarized in CREAM, after the token As the use of cryptocurrencies grows, new types of tokens appear. They can represent value or something intangible like voices. Two … More will become more scarce, its value will have to rise. In addition, the position of investors demonstrates that they are committed to the long-term growth of CREAM, and this can increase the investment attractiveness of the project in the eyes of other participants in the crypto market..

Disclaimer

All information contained on our website is published in good faith and objectivity, and for informational purposes only. The reader is solely responsible for any actions he takes based on the information received on our website..

Share Article

Similar articles

  • Sandbox Game Project Announces $ 3 Million Token Sale

    Sandbox Game Project Announces $ 3 Million Token Sale CONTENTS Binance Token Sale Platform Will Become a Sandbox Token Sale Site Sale…

  • XRP Whales Lined Up For Spark Token Distribution

    XRP whales lined up for the Spark token distribution CONTENTS XRP whales are actively preparing for the Spark token distribution Number of large XRP addresses…

  • The head of the ECB invited everyone to discuss the digital euro

    The head of the ECB invited everyone to discuss the digital euro CONTENTS The head of the ECB Lagarde again spoke about the digital euro. She invited all Europeans…

  • DTrack will pre-sell its tokens no matter what

    DTrack will pre-sell its tokens no matter what CONTENTS DTrack token presale will take place on November 5 Crypto community reaction to the announcement…

  • Wall Street is increasingly interested in the Ethereum blockchain

    Wall Street is increasingly interested in the Ethereum blockchain CONTENTS The Ethereum blockchain could be the new home for Wall Street traders Existing…

Similar articles

  • Sandbox Game Project Announces $ 3 Million Token Sale

    Sandbox Game Project Announces $ 3 Million Token Sale CONTENTS Binance Token Sale Platform Will Become a Sandbox Token Sale Site Sale…

  • XRP Whales Lined Up For Spark Token Distribution

    XRP whales lined up for the Spark token distribution CONTENTS XRP whales are actively preparing for the Spark token distribution Number of large XRP addresses…

  • 1inch project raised $ 2.8 million…

    The 1inch project raised $ 2.8 million from Binance amid an influx of venture capital funds CONTENTS The number of investments in DEX projects from venture funds exceeded…

  • 50% of all bitcoins have not moved in a year

    50% of all bitcoins have not been in motion for a year. CONTENTS The number of bitcoins that have not been in motion for a year has exceeded 50% for the first time. This…

  • The head of the ECB invited everyone to discuss the digital euro

    The head of the ECB invited everyone to discuss the digital euro CONTENTS The head of the ECB Lagarde again spoke about the digital euro. She invited all Europeans…