LimeWire Token to Hold Token Burn on November 15th

Name: Token Burn
Start: 2023-11-15T00:00:00Z
End: 2023-11-16T00:00:00Z

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LimeWire Token is set to conduct its first token burn event on November 15th. This will be the first of six identical token burn events that will take place over the following months.

Each month, a total of 27,500,000 LMWR tokens will be burned. This includes 5,833,333 tokens from the Advisory Pool and 21,666,666 tokens from the Artist Fund. The final token burn event is scheduled to take place on April 15th, 2024.

Event date: November 15, 2023 UTC

What is coin (token) burn?

A coin (token) burn is a process of sending a certain amount of cryptocurrency to a public address that has unobtainable private keys. In the future, the sent coins cannot be spent, thus the coin burn leads to an overall decrease in the cryptocurrency circulating supply.

LimeWire
@limewire

🧵🔥Announcing the 1st $LMWR burn program

Today, we are announcing the first $LMWR burn program, our plan to burn 165 million LimeWire tokens over the coming 6 months - representing 17.5% of the total supply.

All details here: https://blog.limewire.com/announcing-the-first-lmwr-burn-program/ https://twitter.com/limewire/status/1724456721614012918/photo/1

LimeWire
@limewire

The first burn event will happen tomorrow, november 15th, followed by 5 additional identical token burn events in the following months.

Advisory Pool: 5,833,333 $LMWR burned
Artist Fund: 21,666,666 $LMWR burned

Total to burn: 27,500,000 $LMWR every month until April 15th, 2024.

LMWR Price Changes After Event Publication

LMWR Events on the Chart

10.54%

1 day

3.66%

2 days

81.88%

Now (Added 2 years ago)

The event is about to begin