nOS to burn ~37.2 million NOS following scheduled token distribution
We’re holding a token burn event directly after the first scheduled locked NOS distribution January 28th 2019.
Published in
1 min readJan 20, 2019
If you’re interested in our token vesting schedule, refer to our whitepaper.
On January 28th, the nOS Token Smart Contract will automatically unlock an amount of locked tokens for the Private Sale and Company Reserve.
To limit our voting weight on the network, we have decided to pair this event with a NOS Token Burn event, effectively lowering the new projected circulating supply by ~32%.
Summary
- 22,500,000 NOS will unlock for Private Sale participants
- 37,593,504.50 NOS will unlock for the Company Reserve
- 37,219,486.50 NOS will be burned virtually immediately from the Company Reserve.
- Instead of the NOS supply becoming 117,219,486.50 NOS, the supply will become 80,000,000 NOS (approximately 32% lower than projected).
- The token unlock time is the first block on the NEO Mainnet after Monday, January 28, 2019 10:56:52 PM GMT.
Overview
Here’s an overview of the NOS unlocked, NOS burned, and the new circulating supply from January 28:
The next token distribution will take place on April 30th 2019.
