Why we have burned 48% of the total Follow Coin supply
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Yes you’ve read that correctly. We have burned 484.452.464 Follow Coin tokens (FLLW). Here is the proof:
- https://etherscan.io/address/0xa25d01d15fc0e3cdede1bebee4124394aae0db33#readContract
- https://etherscan.io/tx/0xcba528f80814aeaa4af6f4ef450d07f523b8592b055956b66bf20963ab2f58e3
We know you must think we have gone insane! But don’t worry, we haven’t. Let us explain why we will do this. After our token sale in October we ended up with a large amount of remaining FLLW tokens, unsold and unused. The difference between ownership and unsold tokens, became too big in our opinion and we didn’t feel comfortable with the situation. So for that reason, we decided to burn the remaining unsold crowdsale tokens. That means that the initial total supply of 1 billion FLLW will decrease to 515.547.536 FLLW.
Beside this burn we will be executing a further reduction of the total supply of FLLW tokens, to create an even smaller total. All with the aim of rebalancing the total supply. More information will follow in the beginning of 2018.
