Token Burn Recap (Sept 24th — Sept 30th)
Overview
This past week, ExCraft reached a milestone in volume, which translates to a massive amount of ExCraft Tokens (EXT) that were burned and sent to our Destroyed Smart Contract address. Last week, the daily token burn rate remained over 1 million for a 7-day total of 7,543,337; this means that we have burned 391,316 more EXT than the previous week. Next week is shaping up to be even larger, with 2,457,143 being burned on 10/1/2018 and 10/2/2018 alone.
Transaction Fees
Per our whitepaper, 80% of the transaction fees from trade activity (buying and selling) will be used to repurchase EXT, the ExCraft native exchange token, at current market value.
ExCraft leaped mid-week, doubling our transaction volume from around 710-742 BTC up to a week high of 1614 BTC. The largest exchange based on CoinMarketCap reporting does about 200,000 BTC in daily volume. As ExCraft continues to strive and become a leading cryptographic-asset trading platform, a volume of this measure would translate to well over a 13,300% increase; the impact of this on EXT could reflect almost 100,000,000+ ExCraft tokens being burned every day.
Top Pool Spotlight
Rewards are distributed to Pool members based on their transaction activity measured in Proof of Existence (PoE) and that Pool’s distribution ratio, which is decided by the Pool Master.
This is a list of the “Top 5 Pools” coming into the first week of October, all of whom have set their reward percentage set to 100% for Pool members. While the #1 Pool (紅磡挖礦群) remains dominant, activity within the top 5 is beginning to increase; this is likely from the privileges that come along with being amongst the 101 ranked Pools on ExCraft.
The top 101 Pools on ExCraft with the highest amount of trade activity will qualify for a Senator position within the ExCraft DAO. The top 30 Pools based on Proof of Existence (PoE) trading activity with over 1000 KYC members will be eligible for their own Grand Pool Exchange (when that support is released). Grand Pool Exchanges open up a new function for Pools to list unique trading assets not available on the main exchange.
Please stay tuned for more announcements regarding the ExCraft DAO.
Remember to join our social media channels and stay informed with all things ExCraft!
ExCraft Exchange (Website)：https://www.excraft.com
ExCraft Telegram (English)：https://t.me/ExCraftExchangeENG
ExCraft Telegram (Chinese)：https://t.me/ExCraftExchangeCN
ExCraft Telegram (Korean)：https://t.me/ExCraftExchangeKR
