BREAKING: HSN Buys Back And Destroys 20 Million HSN From Angel Round
During the Angel Round, 150 million HSN tokens were released. The initial plan was to unlock these HSN in three phases (20%, 40%, 40%) within one year after the project was launched. The first 30 million of them were already unlocked on June 20, 2019. We originally planned to release another 60 million HSN tokens from the Angel round as the second phase on September 1.
However, since the increase of HSN’s market value significantly exceeds our expectations in such a short time, and in order to safeguard the healthy development of HSN and protect the interests of secondary market investors, after consultation with HSN’s investment institutions that joined the Angel round, HSN Foundation is collaborating with Gloriosa Capital and BAF Capital to repurchase and destroy part of the second phase of the Angel Round tokens, equaling 60 million HSN tokens (equivalent to $64m USD at todays value).
This initiative is divided into 3 steps; each buying back and burning a massive 20 million HSN. The first step to repurchase 20 million HSNs has been done already and these HSNs have now been transferred to the token burn address:
https://etherscan.io/address/0x000000000000000000000000000000000000dead
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