KOLnet Token Burn Complete: On the Path to Deflationary Status
The KOLnet token burn is complete, and we are excited to announce that 25% of the total supply has been burnt. As a result, the on-chain supply of KOLnet tokens now stands at 750 million, see on chain here.
At KOLnet, we are committed to making our token even more valuable for our community of users, which is why we have plans to burn an additional 10% of the new total supply over the course of time. These will include buyback and burn initiatives from circulating supply, making the KOLnet token deflationary in the years to come.
With no more token unlocks scheduled for 2023, KOLnet token is set to become deflationary, which is great news for our users. A deflationary token is one where the total supply of tokens decreases over time, increasing the value of each token in circulation. As more tokens are burnt, the remaining tokens become scarcer, and their value increases. This means that KOLnet token holders can expect to see an increase in the value of their holdings over time.
The potential of the KOLnet token is to become even more valuable for our users. Our buyback and burn program is set to kick off soon, which will help make the token even more valuable. Keep an eye out for updates on this program in the coming weeks.
At KOLnet, we value our users and are committed to providing them with the best possible experience. We believe that the KOLnet token is an important part of our platform, and we are committed to making it as valuable as possible for our users.
With the completion of the token burn and our plans for a deflationary token in the future, we are excited to see what the future holds for KOLnet and its community of users!