May 2021 Burn!
We just completed our May 2021 MOBI Burn! This month we burned 8,499,745 MOBI up from 2,416,267 MOBI last month. The burn this month is almost equivalent to 1% of the total supply. The MOBI were sent to GA74G4TQFHSCYKQB5BPBOXC7NUWODMLPPAPOUNN2527NALOFKUA5UMWU, an account with only 1 signer that has a weight of 0 and thresholds of 1 meaning the account is locked and the MOBI are unmovable.
If you are new to Mobius and our monthly burn you can read about why we’re doing it in our announcement post Tokenizing Stocks and MOBI Burn. In short, as we look into a unified global market with tokenized assets (stocks and beyond), one aspect we are researching is how to achieve instant settlement. In order to experiment with a real world ecosystem we are testing burning a number of MOBI tentatively each month through May 2022. The number of MOBI burned is connected to Passfolio’s revenue and usage (users, trades, etc) but we’re not publishing the algorithm used to calculate the number and it is subject to change as we develop the technology. This month the decline in the crypto market combined with big growth at Passfolio resulted in almost quadrupling the burn from April 2021
If you aren’t yet a Passfolio user you can signup up through this link that will give you up to $100 in free stock and then you can share your referral link with friends and earn even more!
