We have an important update we want to make sure everyone is aware of. We hope you’re as delighted as we are to have listed on KuCoin and now CoinMarketCap. The volume, site traffic and Telegram members are all up and things are going well with the trading competition (you’ve got until Saturday at 23:59 to participate)
Alongside KuCoin we’ve been working with KuCoin’s marketing team to increase our brand awareness at this crucial time. The campaign comprises of social and banner advertising, PR, emails, content creation and influencer marketing. This will run for the next 6 weeks and will bolster our presence in the space and help the new Zinc brand take off as well as our listing on KuCoin. Good news for everybody.
We wanted to give a formal update on the circulating supply of ZINC (formerly CVT) and make people aware of future updates or possible updates to be as transparent as possible. The supply changed following the communities decisive vote to use tokens for listing and trading competitions.
As of last Friday the circulating supply is now 4.55m tokens.
- 750k tokens were used for the trading competition which provides a great incentive and opportunity for new investors.
- 800k tokens have been spent on the marketing campaign necessary to list with KuCoin. We will be sending some of the benefits and exposure gained from this in the coming weeks.
- An additional 900K worth of tokens were used to supplement the KuCoin BTC listing fee. These tokens are locked for 3 months. When unlocked we have been reassured they will not move but regardless this will bring the circulating of unlocked tokens up to — 5.45m.
This leaves 2.24m tokens from the unsold T1 of 3.89m. Given we brought the vote forward for using unsold tokens it makes sense to offer another vote on the remainder now. We will be holding a vote in the coming weeks for you to decide what to do with the remaining tokens. Please look out for this to make sure your voice is heard.
Things to note:
- The overall total supply of 24 million tokens has not changed and will never change.
- The supply could change again depending on the outcome of the next vote.
- As a reminder, if the team is successful in hitting all the project milestones it will trigger the option of another crowdsale. There could be a total of 2 additional crowdsales in the future as outlined in the whitepaper.
- We will be holding a vote next week to decide what to do with the remaining T1 unsold tokens.
- The total circulating supply is now 4.55 million and 5.45million in 3 months time.
- The choice to use tokens for listing fees was based on the two community votes in June.
You will receive updates in Telegram in regards to the next vote commencing. Due to the engagement we had with the Telegram vote bot we will be using this to conduct our next vote. The main priority is to be as inclusive as possible so sadly we’ll be dropping the decentralised vote dApp for the next vote.
Thanks for your support.