ERC-20 ELF Token Burn Announcement

aelf plans to burn the first batch of ELF ERC-20 tokens from the Mainnet swap.

Since the official launch of aelf Mainnet and later the initiation of Mainnet token swap in September, 2021, aelf has been actively supporting institutions and users in mainnet upgrading and ELF swapping. So far, almost all the major exchanges where ELF has been listed, including Binance, Bithumb, Upbit, Huobi Global, OKX, and gate.io, etc. have supported aelf Mainnet and have been providing smooth deposit and withdrawal services of ELF Mainnet token.

The ELF ERC-20 which were deposited throughout the Mainnet swap have been custodied by aelf. To protect the health of ELF’s tokenomics and facilitate further user migration to aelf Mainnet ecosystem, aelf plans to burn the first batch of ELF ERC-20 tokens from the Mainnet swap. A total of 393,226,908 ELF ERC-20 tokens will be burnt during the process, sending them to burn addres 0x0000000000000000000000000000000000aedead. Once the burning is done, we’ll provide updates and details of the burning in a separate announcement.

Current ELF ERC-20 token holders or ELF token holders at large will not be affected in any way. ELF token swap will also be continously available for different ELF token holders via Mainnet token swap portal or the cross-chain bridges in aelf’s ecosytem in the future, or via Binance where ELF Mainnet and ELF ERC-20 are still both supported.

Now that aelf Mainnet is running stably and steadily for a couple of years, and aelf ecosystem is rapidly growing as aelf has released various programs to support BUIDLers such as Aelevate programs and aelf ventures, we are committeed to strengthening the network, enhancing the infrastructure, and upholding the overall health of ELF’s tokenomics.

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Telegram: https://t.me/aelfblockchain

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