Token burn (~27%) and rebalancing update
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After our token sale last October we ended up with a large amount of unsold FLLW tokens. As described in our terms and whitepaper we burned the unsold 484.452.464 FLLW, leaving us with a total supply of 515.547.536 FLLW.
More information on the first token burn in December 2017 can be found here: https://medium.com/followcoin/why-we-will-burn-48-of-the-total-follow-coin-supply-4071a8dada08
Because of that first token burn the difference between owned and sold tokens became too big in our opinion. As we didn’t feel comfortable with that situation, we decided to do another token burn and rebalancing. This time we burned FLLW tokens from our own holdings. Now the tokens are distributed in a way it makes more sense, and the way the community wanted it to be.
We burned 140.547.535 FLLW. That’s close to 27% of our total (remaining supply) Proof: https://etherscan.io/tx/0xf1c1f9de2b081c432f9aa7d1f2dc88fb51c69857b1f4eef0e103f281deb65e4d
The total supply is now 375.000.000 FLLW (three hundred and seventy-five million). This was the final token burn. With this burn, it’s time for a rebalance of the tokens too. All the FLLW are allocated to the rightful owners and addresses. See the pie chart below for more information. This information will be updated soon in our white paper and communication too.
Token allocation:
- 21% Follow Coin -team
- 9% Follow Coin -advisory board
- 59% Follow Coin -community
- 1% Bounty programme
- 10% Strategic partners
