[ANN] Milk Coin (MLK) burning and issuance of new membership token, MAP

MiL.k, a platform for integrating rewards points of various travel, leisure, and lifestyle services in Milk Coin (MLK) has decided to burn 300 million MLK in total (23.1% of total supply) and issue new membership token, MAP to grow the MiL.k ecosystem and enrich its membership service.

Portions for the team, service partners, marketing activities, etc. are subject to the burning, and the first burning will be of 100 million MLK. There will be 2 more burning events within the first half of next year.

First burning

Amount : 100,000,000 MLK owned by MiL.k foundation

In addition, MiL.k will hold a public-participating burning event whose participants can get the following benefits.

Benefits for participating in the burning

1. How to participate : On MiL.k app
2. Participating amount : Minimum of 1,000 MLK
3. Schedule : Nov 2nd, 2020, 00:00 ~ Nov 4th, 2020, 24:00 (3 days)

Rewards for participation

1. Foundation-owning 20 BTC will be distributed to all participants based on their participating amount proportionally (to be granted to users’ submitted BTC addresses after the burning)
2. 3 MAP (new membership token) per burning-participating MLK (to be granted on MiL.k app within this year)

Thus, the first burning will consist of 100 million MLK of the foundation (fixed amount) and the total participation amount of MLK holders. The two burnings will be held at once on Nov 5th, 2020.

Detailed information about MAP, the membership token can be found on our white paper at MiL.k Alliance web(https://milkalliance.io).

MiL.k team will make the best effort to add more service features and partners.

MiL.k team

Upbit announcement

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