Burn & Buy-Back Report: Q1 2022.
The Numbers team completed the first round of its Burn & Buy-Back plan on March 28, 2022 . A total of 2,542,129 NUM was removed from circulation.
Burn summary
- Total assets in the network: 25,421,291
- Total NUM burnt = 25,421,291 * 0.5 & 20% = 2,542,129
- Approximate value in USD: ~$ 1.2M USD
- Transaction ID (TXID) for NUM burnt:
- Burnt 1 NUM Tx: https://etherscan.io/tx/0x79991950f7189ebb0e00c9a27e739ccc4b8242008aed128169f59883d70a806b
- Burnt 9 NUM Tx: https://etherscan.io/tx/0x8867074369d2c455e945cfebb7ab2fc5535046157c1c7fdd58b5e18694585d3f
- Burnt 2,542119 NUM Tx: https://etherscan.io/tx/0xc030bc0e4af12b6e2985d53e0fd4cef58bbd86a7bb2a397ce96901590e1d612c - Total NUM circulating supply has decreased from approx. 88,111,620 NUM to 85,569,491 NUM (CMC will be updated soon)
What does this burn mean?
The Burn & Buyback plan was introduced to the community on January 14, 2022, as part of 〈Numbers Deflationary Token & Asset Economy System〉. Following a one-month community review process which concluded on February 13, 2022, the Numbers team has gone ahead and executed the Burn & Buyback plan on quarterly basis to determine service fees and calculate the number of tokens to be bought back and burned. The end goal is to tokenize authentic photos ( including images and videos) to create a decentralized photo network in Web 3.0.
This quarter, burnt NUM tokens were collected from different sources as described below :
- 1/3 was from bought back
- 1/3 was removed from Ecosystem lot
- 1/3 was removed from Liquidity lot
We will keep running the Burn & Buyback plan until we burn 50% of all the NUM (500MM).
The total amount of NUMs to be burned in the first quarter will be based on the total registered assets. If you want to learn more about how it works, please refer to the article .
Thank you very much for your continued support. We would not have gone this far without you. If you have any suggestions or concerns please contact service@numbersprotocol.io. We will continuously grow the project and make Numbers Protocol the foundation of the future Web 3.0 world.
About Numbers Protocol
Numbers is building a decentralized photo network for creating community, value, and trust in digital media. Its Numbers Protocol redefines digital visual media as assets and is the backbone of a suite of tools for registering and retrieving images and videos in the Numbers network.
These include:
- Capture App: The first blockchain camera in the world that users can easily register photos and use Web3.0 applications.
- Seal API: Developers and enterprises can implement Numbers API to register photos and access their Web3.0 addresses and certificates.
- Certificates: content authenticity certificates with on-chain provenance
- CaptureClub marketplace: Native NFT marketplace which allows photo generators to sell and stake their creations.
- NFT Search Engine: The first Web3.0 NFT search engine that helps users verify the history of NFTs and prevent potential NFT fraud.
Numbers champion the purity of digital media and enable people to think more critically about the interactions between our images and the world around us. The goal of Numbers is to tokenize authentic photos (including images and videos) to create a decentralized photo network in Web3.0.
