MediBloc Coin Burn Completed

The coin burn of 648,183,781 MED (approximately 7.8% of the total issued volume, $51,948,561 on current price) was completed at 11 a.m. on September 1, 2021(KST).

This burned coin is the MED that MediBloc received as as reward for the block generation by operating the node for about two years from the time of the opening of the mainnet to the official joining of the validators. Since this is a reward that we received by organizing our own blockchain network, we proceeded with the coin burn for equity.

The coin burn is written to the blockchain as 21 transactions, which can be found at the link below.

https://www.mintscan.io/medibloc/account/panacea100000000000000000000000000000000nqmafp
(The balance is 0 MED because the MED has been burned , and the bottom transactions history shows its volume.)

MediBloc will continue to build a decentralized healthcare ecosystem.

Thank you.