61,358,389.66 FACE Burnt
Thank you very much for supporting Faceter! After the Token Sale, we remain true to our proposed roadmap and today we have an important announcement to make. Faceter is announcing a burn of 61,358,389.66 FACE that effectively reduces the total supply of the FACE Token.
How and why Faceter burnt tokens?
61,358,389.66 FACE Tokens were burnt over 4 transactions. The first transaction was a test burning of 1 FACE, while the following 3 transactions burnt tokens from 3 pools.
How it works: Our smart contract includes “burn” feature. FACE Tokens are transferred from our contract to the special address (0x0000000000000000000000000000000000000000) and these tokens can not be sent back. Such Tokens were eliminated from the total supply and do not exist in the Faceter contract any more.
Also you can check the new balance of the FACE Tokens on the FACE Token contract here.
Faceter has burnt tokens from several pools, and below is the breakdown:
Accounts with less than 500 tokens (9,385,809.84 FACE): Faceter has committed that there will not be any Airdrop, so all bonus tokens, remaining on accounts with less than 500 FACE were burnt. We have also made a list of all accounts from those tokens were burnt, it is a list of masked emails and amount of tokens (that was burnt). You can find the list here.
Advisors tokens (48,300,128.82 FACE): not all tokens from the advisors pool were used for advisors remuneration. As a result, we decided to burn all FACE Tokens remaining in the Advisors remuneration pool.
Bounty program tokens (3,672,450 FACE): as we previously announced, Bounty program was cancelled in favour of a limited bonus offering to early Token Sale contributors, not all FACE were used and the remaining amount was burnt.
Reminder
Our Token Distribution is in progress and you can see the current status here. FACE are already sent to over 19015 addresses in 19250 transactions. There were 252 cases which we had to take care of manually, case by case.
We want to assure our contributors, that Token Distribution does not affect any other procedures and all remaining FACE will be sent to holders as soon as they will provide ERC20 compatible ETH addresses with access to private keys.
If you still haven’t added your ERC20 compatible ETH wallet address with access to private keys in your Faceter account, please do it asap! The sooner you provide the ETH wallet address, the sooner your tokens will be sent to you.
We also want to remind you, that FACE Tokens will be unlocked as soon as we will hit the 1st official exchange. Thank you for your patience!
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