FESS First Token Burn Event Completed
Hello Believers,
The more is NOT always better.
And the same is the case with FESS Tokens. For we decided to burn a considerable amount of FESS tokens from our circulation supply. We believe it will bring more prosperity to the long term token value and also give a boost to the morale of the community.
A Quick Snapshot
Token Burn Amount: 3.65% of the Total Supply
No of Tokens Burned: 362,425,844.122 FESS
Updated Current Circulation Supply: 97,154,155
Check this here: https://etherscan.io/tx/0x59cf1f0826ca8c372d3a18a81191471896765939bcd938456c97b2ce4be3578e
Why this sudden token Burn?
There were several unused tokens during sale rounds and giveaways. We have already plans regarding a heavy token burn. So, it was not a sudden token burn at all. Though due to ETH network congestion issues this awaited burn event definitely got delayed a bit.
Was it Important?
Yes, it was important in order to sustain the demand and supply equilibrium of the Tokenomics and for the sanctity of the Token price.
Note: The data might take some time to update on Coinmarketcap and Coingecko. So, checking the updated supply in a day or two will reflect the correct data
More Positive news are on their way. Stay Tuned!
