Light it up 🔥 Details behind the MORPH Token burn
New update for our community: MORPH tokens will be burned next week!
As mentioned in Dev Update #1, lowering the hard cap from $36m to $18m requires burning unused tokens. Unsold tokens will also be burned.
Let’s cover the details about the MORPH token burn.
What is a token burn?
It’s standard practice for many companies that run a token sale to burn unused and unsold tokens. By burning tokens, we’re “evaporating” tokens from being purchased, exchanged, or sold — lowering the total supply of available MORPH tokens.
Why are we burning tokens?
After the conclusion of most token sales, tokens that have not been purchased are typically burned. Also, for most token sales, lowering a hard cap implies that unused tokens are also burned.
Token burning helps maintain a healthy cryptocurrency, keeping the token supply low while balancing the value of each token. Token burning is also completed in fairness to early contributors and the community in general.
What are the advantages?
Less supply in tokens adds to the rarity of a new coin.
How many tokens will be burned?
Approximately 52 million MORPH tokens will be burned, which includes both unsold and unused tokens.
When is the token burn date?
The MORPH token burn date is scheduled for Friday, June 8th.
What is the new total supply and what is the new token allocation?
The initial circulating supply will be adjusted to 25,900,000 MORPH tokens, equaling a new total supply of 47,800,000 MORPH tokens.
How can I purchase MORPH tokens?
MORPH tokens can be instantly purchased on the following exchanges:
Are there other ways to receive MORPH tokens?
Morpheus.Network will be airdropping 1,800,000 tokens starting on June 15th. You can read more about the MORPH token airdrop here.
How can I view my MORPH tokens?
MORPH tokens can be viewable within MyEtherWallet’s ERC-20 wallet. Click here to learn more.
Now is the time to get involved! MORPH Tokens are available to buy and exchange on leading exchange services: HitBTC, Bancor, LAToken, IDEX, LiveCoin, and HotBit. MORPH will be available on TopBTC soon.
For more information on how Morpheus.Network will fix the inefficiencies in global trade, visit https://morpheus.network. You can also connect with the team on Telegram, Twitter, Medium, Reddit and Facebook. And be sure to subscribe to our newsletter below for important updates!