Mainnet Token Burn Has Begun! | Over 20% of Circulating Supply Destroyed

2,170,000,000 IOST (ERC-20) Burnt in First Round

IOST Mainnet was officially launched on February 25, 2019. Following the launch, IOST Foundation has been actively carried out the updating of Olympus v1.0 and the mainnet token transfer. We are happy to announce that the first batch of IOST ERC-20 Token have been successfully destroyed.

First batch destroyed: 2,170,000,000 IOST (ERC-20 tokens). This represents over 20% of circulating supply.

Burn transaction records

Mainnet Token Burn Will Continue

Olympus v1.0 is now running steadily with close to 200 Node candidates, reaching 3,879,596 block height and 11,729,771 transaction volume as of 3:25 PM on March 6, 2019 Singapore time.

The mainnet token swap processes are now in full swing. For ERC-20 token burn, IOST Foundation will share with our community in a timely manner and invite all users and supporters around the world to witness and provide oversight.

Participation from Major Exchanges

Major exchanges are also working on the mainnet token swap in a timely and orderly manner, including Binance, Huobi, BISS, Upbit, Bithumb, KuCoin which have all have made official announcements on their website, and are working alongside the IOST team to ensure a successful mainnet token swap for our users and supporters around the world.