On February 10, the first Azbit token burn will take place. Wiping out AZ from circulation the team strives to increase the coin’s price.
“We have already carried out the procedure for destroying unsold tokens”, Azbit CEO and co-founder Sergei Ermolitski commented, “however, the upcoming event will become a landmark: AZ coins from the project’s profit will be turned to ashes for the very first time. Azbit will continue to burn native tokens based on profit until AZ supply hits 13.888.888.888, i.e. 10% of the initial figure.”
Today Azbit already has tokens ready for destruction — these are commissions from the exchange and AZ Markets. However, their number is not large yet. For this reason the team is waiting for AzPlay gambling platform launch and its first profit in AZ coins. By February 10, the number of tokens intended for destroying will increase, and we will be ready to carry out the first procedure. In the future, it is planned that AZ burn will occur on a weekly basis. Further details will be announced next week. Stay tuned!