Tokamak Network deposits additional 200 ETH to TOSv2 Treasury (2023.6)
June 16th, 2023 TOS backing has increased!
You can find the Korean version of the article here.
Hello, this is Tokamak Network. We announce that TOSv2 Ethereum deposit scheduled for June has been completed. The total ETH deposited by Tokamak Network, including the June deposit, is 1600 ETH. The additional ETH deposit into the Treasury has resulted in a decrease in TOS minting rate.
The details of changes from ETH deposit in June are as follows.
[TOSv2 Treasury Update]
- Today’s Ethereum Deposits by Tokamak Network (2023 6.16 18:30): 200 ETH (425 Million KRW, 333,923 USD) (Transaction link)
- Total ETH deposit by Tokamak Network: 1600 ETH (3.4 Billion KRW, 2.7 Million USD) (Treasury address)
- Changes in Minting Rate (TOS per 1 ETH): 20,000 → 18,000 (Transaction link)
The minting rate is reduced by depositing 200 ETH in Treasury. 200 ETH will be supplied to Treasure every month for the next 2 months. This is the eighth additional deposit since the initial deposit. It is important to note that no TOS is minted from the 200 ETH deposit, and all the treasury assets are used to back TOS tokens. Therefore, the value of TOS will not fall below a certain level even though the market is in a downturn. The TOS minting rate will continue to fall to the target value of 14,000 TOS per 1 ETH as more ETH is deposited by Tokamak Network in the future. As a result, the backing value of TOS will also increase.
The details of the minting rate can be found in the posting.
Please look forward to the next TOSv2 update. Thank you.
Tokamak Network & TONStarter
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