$VADER Reserve Bond Allocation Token Burn
We have recently made a few feature upgrades to the VADER<>USDV minter that allows for the permanent removal of VADER from total supply.
With the closing of Reserve Bond 2, a total of 602.48 ETH was raised, which will form part of the Treasury Reserves and go towards the development of the Vader Roadmap. The closing price is 0.0000037339 VADER/ETH, which is above the reserve price.
As per our previous announcements and medium post the Reserve Price Provenance Hash for Reserve Bond 2 was as follows:
string=”VaderReserveBond2_price_reserve: 0.000002 VADER/ETH //8DAQJ1"
At the reserve price listed above, this would mean that 750 million VADER had been allocated for Reserve Bond 2.
Since only 162 million of VADER had been utilized, we have decided to burn the remainder allocated for Reserve Bond 2 which amounts to a total of 588 million VADER tokens.
As such, 588 million VADER tokens that have been allocated and unused has been permanently burned.
(Transaction ID in the link below)