PART TWO — Introduction of 800,000,000 RVX (20%) ONE-OFF BURN on Total Supply🔥🔥🔥
A follow up of RiveX’s Burn-and-Mint Equilibrium and its token metrics!
Bullish Vision On A Deflationary Model
This marks a promising move from an inflationary model to a deflationary model as the team behind RiveX strongly believes in this divergence which will encourage adoption and a greater value for the general RiveX ecosystem.
RiveX will be doing a one-off burn of 20% of the total supply. This is one of the largest supply burns in the industry today. This will definitely increase RVX token scarcity. To add on to that, RVX tokens scarcity increases even more now as there is a limited RVX token supply on both Wanchain and Ethereum ecosystems respectively.
Please refer to the table below on the new treatment of the 40% total supply for DeFi Initiatives.
Every time RVX tokens are burned and minted, the team will reveal the token contract for full transparency on the usage and transfers of these tokens. The addresses which hold these tokens will be revealed to the public as well. An explanatory article will also be released every time these tokens are locked and minted. The article will clearly outline the needs and uses of these tokens as well as the token utility and unlock schedules.
Let’s learn more below on the in-depth breakdown and treatment of the 1,600,000,000 (40%) RVX from DeFi Initiatives!
20% DeFi Initiatives Permanent One-Off Burn
As we all already know, the total current DeFi Initiatives portion is currently set at 40% which is equivalent to 1,600,000,000 RVX tokens.
RiveX has decided to permanently burn 20% of the total supply from DeFi initiatives to further support RiveX’s vision for a deflationary model. The total supply will be heavily reduced by 20% which is equivalent to 800,000,000 RVX tokens.
10% DeFi Initiatives Burn-and-Mint Equilibrium To ERC20-RVX
This leaves us with only 20% remaining of the total supply on the DeFi Initiatives portion after the permanent one-off burn of the 20% of DeFi Initiatives.
Out of this 20% portion from DeFi Initiatives, 10% will be burned from the WRC20-RVX supply and then minted as ERC20-RVX on Ethereum via the Burn-and-Mint Equilibrium model as mentioned before in Part One of the article.
This supports RiveX’s vision of DeFi initiatives, solutions, and interoperability on both Wanchain and Ethereum.
10% DeFi Initiatives To Remain As WRC20-RVX
The remaining 10% portion from the DeFi Initiatives will remain as WRC20-RVX to further support the DeFi initiatives and solutions on the Wanchain protocol.
**PLEASE NOTE: BITMAX AND WRDEX WILL ONLY SUPPORT WRC20 BASED RVX TOKENS.**
RiveX’s Token Metrics Now!
Token Metrics
There is a change in the current total supply. The total supply of RVX has reduced 20% from 4,000,000,000 to 3,200,000,000 now! Please refer to the new token metrics below with a new weightage on the total supply.
Token Release Schedule
Please refer below for the full disclosure on the WRC20-RVX token release schedule!
Please stay tuned for PART THREE of the article as we will be releasing more on RVX burning mechanism and the staking initiatives which everyone has been looking forward to — LEAGUE OF STAKES! ❤
In case you missed Part One:
About RiveX
RiveX is a chain agnostic interoperable layer-2 solution across different blockchain protocols. RiveX aims to empower the next generation of decentralized applications, decentralized finance and enterprise solutions. RiveX has comprehensive interoperable DeFi solutions such as RX Wallet which aims to integrate DAPPS from different blockchain protocols to enable an interoperable DeFi ecosystem within RX Wallet itself. The first DAPP which RX Wallet has already integrated is WRDEX. Another core product powered by RiveX is the world’s first cross-chain DEX called WRDEX.
👇 More about RiveX 👇
RX Wallet | WRDEX | Website | Twitter | Telegram | Medium | GitHub
