After Successfully Burning More Than 60 Million XVIA Tokens, VIABET Proceeds with The First Round of its Public Token Sale
VIABET — The blockchain-powered platform which acts as the technological launching pad that allows regular players as well as gaming companies to create and launch their own casino games. Has reported that it has successfully completed its first ever token burn on December 10th as part of the team’s long-term plan to raise the value of XVIA tokens.
The VIA (XVIA) Token Burn Strategy
Note: We have Successfully burned over 60 million XVIA tokens on 10, December, 2017!
VIABET will be having two (if necessary) token burn events, each at major milestones which will allow to raise the value of XVIA at key points:
BURN 1: The first official token burn has already been successfully completed on December 10th by reducing the overall token supply from 70 million (70,000,000) to 7 million (7,000,000), a 90% decrease.
XVIA Token Burning Process
Burning tokens or coins is basically sending them to an address that locks them away. The lock is being guaranteed by choosing a receiving address that is extremely unlikely to ever generate. Therefore we chose the following address for burning XVIA tokens :
0x0000000000000000000000000000000000000000
To achieve proportional distribution of tokens, a total of 44,003,202.25318785468 XVIA were burned from the original ICO distribution wallet, as well as 18,900,000 XVIA from the owners wallet.
Which leaves with a total circulating supply of 7 million (7,000,000) XVIA Tokens or 1/10th of the original allotment.
Both token burn transactions can be confirmed by viewing the tx ID’s which are as follows:
BURN 2 (if necessary): The second burn will happen in the event that not all 4.4 million tokens are sold and distributed during the Public ICO. It will take place after listing on the first official trading exchange, EtherDelta (Planned for as early as December 12th if all 4.4 million tokens are distributed during that time, otherwise the listing date is scheduled for January 7th, 2018)
With each burn, VIABET aims to achieve a high level of stability and steady overall price increase.
Public ICO to Begin December 11th
The VIABET ICO is set to begin December 11th, 2017 (6:00 PM UTC). However, only 4.4 million XVIA Tokens will be sold during the Public ICO. As the ICO is capped at only 3700 ETH, it is predicted to sell out and close its doors to new investors long before its January 7th deadline is hit. In addition, VIABET has early bird discounts in place to incentivize investor participation, a 20% bonus for early investors is up for grabs.
The project has already met its minimum (soft cap), which was $100,000. Thus, even if it does not hit 100% of its goal, it is still moving forward with its development roadmap and marketing initiatives.
VIABET is primed to become the 800-pound gorilla of the online gambling industry by taking advantage and fully utilizing blockchain technologies in a new and unique way as well as integrating itself with the vast 95% fiat market share of online gambling that cryptocurrency gambling has not yet tapped into.
At the moment, XVIA tokens are going to be available to trade on EtherDelta followed by 4 other crypto-exchanges including, HitBTC, Bittrex, Poloniex, Gatecoin etc.
