After a consultation with our senior advisors and partners from the automotive industry and after a careful consideration of all the ideas that were shared with us by the active members of our community, we have decided to decrease the number of VLB tokens to ever be released to 100 million. That means that the number of tokens released for ICO (VLB 30 mln.) will constitute 30% of the overall token amount created for the VLB ecosystem, as opposed to 17% as initially planned.
The number of tokens that were going to be released for round B of financing our blockchain development (possibly, to be open for private investors only) and round C (planned for the automotive industry participants) is going to be cut by 75 million tokens.
You can check the token burning transaction here.
Therefore, the final number of tokens to be released is going to be 100 million instead of 175. For more information about the terms and stages of the development of blockchain, phases and funding amounts please refer to our White Paper.
What does it mean and why are we doing this?
This decision has been taken to re-assure the ICO participants that we are not reserving a significant amount of the overall tokens for future price manipulations. Also, just as we announced before, tokens for the future rounds of funding will be stored on escrow account / smart-contact, in order to guarantee that we are not keeping them for ourselves.
We are reducing the quantity of tokens, because we are confident that in this case we will complete all the tasks that these tokens were reserved for initially: the funding of the project and pulling in professional market players.
Base VLB token price (1ETH = 650 VLB) is only correct for the ICO phase.
We have reached the decision to decrease the number of released tokens with the help of active members of our community. We are always open to any feedback in order to grow, so that our project becomes more interesting and more appealing to you. We appreciate all your interest and participation in our project — your views and opinions are very important to us!
If you are a member of our community — please reach out, join in and keep sharing your ideas with us!
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