The Execution of Amendment to CYB Airdrop&burning Plan
The final results of the Amendment to CYB Airdrop&burning Plan Referendum were announced for a while, and the Amendment will be executed on January 7.
The execution of this voting result:
1. Destroy the remaining 291.7 million CYB to null-account for airdrops at one time, and then there will be no airdrops every month;
2. Destroy the CYB used for this community vote.
Destroy Airdrop CYB
① According to the final results, there will be a one-off burning of all remaining CYB used for the airdrop (about 300 million) while the transaction fee burning remains unchanged.
Interpretation: When the mainnet of CYBEX was launched on Feb 26, 2018, the total token supply was 1 billion at that time. CYBEX initiated its airdrop plan on Mar 30, 2018, and by Dec 21, CYBEX has done 10 rounds of airdrop for 208.3 million CYB. There are still 14 forthcoming airdrops of 291.7 million CYB. If this plan were executed, CYBEX would burn the 291.7 million CYB in Jan 2019 and there would not be any airdrop to come.
②Burning Method: Transfer 291666666 CYB from crypto-vault to null-account, which is specifically used for storing burnt CYB.
⚠️⚠️⚠️NOTICE: null-account is an account generated by the system without a public key. You can check it from account permissions of the account.
③Burning results can be traced from the activities history of null-account
As the screenshot shows:
Burning the CYB used for the Referendum
①According the Referendum of the Amendment to CYB Airdrop&burning plan, CYBEX will burn CYB used for the Referendum in the following 4 accounts:
burn-cyb-option-a : 112 CYB
burn-cyb-option-b : 75753.3 CYB
burn-cyb-option-c : 1 CYB
burn-cyb-option-d : 17135 CYB
②Burning method: Transfer out from burn-cyb-option-a, burn-cyb-option-b, burn-cyb-option-c, and burn-cyb-option-d to null-account。
As the screenshot below shows: