[ANN] <Burning all tokens outside the distribution plan> is Complete!

Dear MARBLERS,

Phase 1 of Tokenomics Optimization, or “Burning all tokens outside the distribution plan”, that aims to enhance credibility and sustainability of the MBX ecosystem is now complete.

Total burnt tokens: 673,627,556 MBX
Burn transaction URL: https://www.klaytnfinder.io/tx/0xde2f5e5c1526d410d6b6bdd0290f07c4cd6e84b29679fa5152a802a364d1cffd

The token volume burnt today, amounting to 673,627,556 MBX, corresponds to approximately 67.3% of the total MBX issued at genesis. Burning the unplanned distribution supply serves as a pivotal action that would relieve any market uncertainty caused by potential circulation pressure and allow MARBLEX to operate its tokenomics according to a fully disclosed distribution plan. We believe that this would enable a more compact value implementation for the MBX token and foster ecosystem development that is transparent and sustainable.

Below are the details regarding <Burning all tokens outside the distribution plan>.

Proposal

On June 26, MARBLEX proposed “Burning all tokens outside the distribution plan” as Phase 1 of Tokenomics Optimization.

1. MARBLEX Tokenomics Status

According to the MARBLEX Token Deflation Model, a portion of the total supply of 1,000,000,000 MBX had been burned. As of the date of proposal on June 26, 2023, the total supply amounted to 999,798,906 MBX. Out of this, 55,485,712.33 MBX (5.55% of the total supply) was in circulation.

2. Proposal Summary

Taking into account the market flow and economic scale during the initial planning of MARBLEX tokenomics, a significant amount of the total supply was allocated for future ecosystem enhancements. However, based on the current market conditions and vitalization state of our ecosystem, we have taken into consideration the possibility that conserving our current resources for ecosystem vitalization beyond 2027 may be hindering said vitalization in the early stages.

To alleviate market uncertainty arising from potential circulation pressure and establish transparent tokenomics, we propose the burning of the unplanned distribution supply that is not included in the <MBX Token Distribution Schedule by 2026>.

Out of the 1,000,000,000 MBX issued at genesis, 673,627,556 MBX corresponds to the unplanned distribution supply. The removal or burning of this amount would result in the reduction of the total supply from 999,723,287 (as of July 13) to 326,095,731 MBX.

**The Total Supply in CMC or CoinGecko may differ slightly from the figures in the announcement since CMC or CoinGecko updates the amount of burning in real-time.

Voting Results

The following proposal represents a highly significant decision for the governance of MARBLEX and has reflected the opinions of core members of the ecosystem–the MARBLEX community–to determine its final implementation.

The voting process took place during July 4–10, where community members submitted their votes through the Marblership Lounge, an exclusive channel in the official Discord, and MARBLEX Space on Snapshot.

1. Result Summary

• 99.7% of community voted “Yes”
  ■ Out of approximately 340,100 Voting Power, 339,000 (99.68%) were used to vote Yes on Snapshot
  ■ Out of a total of 430 voters, 427 (99.3%) voted Yes on Marblership Lounge

2. Result Details

• Snapshot Voting Results
  ■ Total MBX input for voting: approx. 340,100
  ■ Out of the total, 339,000 MBX (99.68%) were used to vote “Yes”
• Marblership Lounge Voting Results
  ■ Total Marblership lounge users: 559
  ■ Total voters: 430
  ■ 427 (99.3%) voted “Yes”; 3 (0.7%) voted “No”
• Comprehensive Voting Results
  ■ Yes: (427*10)+339,000 = 343,270 (99.7%)
  ■ No: (3*10)+1,100 = 1,130 (0.3%)
  *Votes in the Marblership Lounge were multiplied by 10 to represent Voting Power

Based on the results above, the proposal to <Burn all tokens outside the distribution plan> has been officially approved, and the burning of the unplanned distribution supply of 673,627,556 MBX has been completed as of July 19. Once again, we’d like to thank you all for taking part in the dramatic changes of the MBX Tokenomics.

MARBLEX will continue to strive for a robust and sustainable ecosystem.

Until then, we kindly ask you to stay tuned and await what lies ahead.

NOTE

• It may take up to 1 week for CoinMarketCap and CoinGecko to reflect the changes in the total supply following the burn.
• The MARBLEX inflation system remains pending, as mentioned in our previous announcement, and will not be affected by the Tokenomics Optimization. We will provide an announcement should the growth in distribution rate lead to a resurgence of the inflation system.

[XANGLE]

1. Token Info

■ Token Symbol: MBX
■ Token Burn Volume: 673,627,556

2. Token Burn Details

Before burn
■ Total supply: 999,723,287 (as of July 13)
■ Circulating supply: 58,892,548.137

After burn
■ Total supply: 326,095,731
■ Circulating supply: 58,892,548.137

Token Transaction URL
https://www.klaytnfinder.io/tx/0xde2f5e5c1526d410d6b6bdd0290f07c4cd6e84b29679fa5152a802a364d1cffd

Get to know MARBLEX

MARBLEX (MBX) is a game-based blockchain service company that aims to bring the highest quality blockchain games to market than any other company by producing AAA titles. A well-established company with over 6,000 collaborative employees, including game industry veterans and blockchain technology experts from across the globe. By providing services such as a cryptocurrency wallet, decentralized exchange, token staking, and NFT Marketplace, MARBLEX (MBX) allows users to experience an optimal blockchain-based game ecosystem.

Live games under MARBLEX Service
<A3: STILL ALIVE>
<Ni no Kuni: Cross Worlds>
<The King of Fighters ARENA>
<Meta World: My City>

Upcoming games under MARBLEX Service
<RF Project>

MARBLEX Official Website
> https://www.marblex.io/

MARBLEX Blockchain Services
> MBX MarketPlace : https://marketplace.marblex.io/
> MBX SWAP Service : https://swap.marblex.io/

MARBLEX Official Discord Link:
> https://discord.com/invite/marblexgames

MARBLEX Official Twitter:
> https://twitter.com/MARBLEXofficial

MARBLEX Official Telegram Link:

> EN: https://t.me/MARBLEX_official_ENG
> JP: https://t.me/MARBLEX_official_JP
> TH: https://t.me/MARBLEX_official_TH
> TW: https://t.me/MARBLEX_official_TC

MARBLEX Official Facebook:
> https://www.facebook.com/MARBLEXplayground