Polars: 400mln POL tokens were burned (Aug 2021)
As we promised in the last major update before the launch of the Polars mainnet, we are removing 400 mln POL tokens from the total supply.
We used to have 2 billion POL tokens. Of these, 1.4 billion were intended for distribution among active users over the next 5 years but now, in view of the fact that we do not have liquidity providers in the Liquid Pool. We decided to reduce the total supply by 400 million POL meaning that we will now have only 1.6 billion tokens, of which 1 billion will be allocated for distribution among active users over the next 5 years. The rate of accrual will linearly depend on the trading volume on the Polars platform. The Excluded 400 million POL tokens will be sent to the zero address of the Ethereum network in the next few days.
Now the total total supply of POL tokens is 1.6 billion, of which 1 billion POL will be allocated for distribution among active users over the next 5 years. Additionally, we have implemented a mechanism to buy back and burn 50% of all remaining tokens, but we will talk about this in the following articles. Thanks for your support!
The new DeFi platform for creating secure polar tokens, the price of which depends on the results of specific external events. Within the POLARS platform, users can buy, sell and exchange polar tokens, as well as participate in the distribution of the platform’s commission income.