Dear Tokonauts,
We are excited to announce that the TKO Quarterly Burn for Q3 2024 has been successfully executed on 24 December 2024. As part of our commitment to the TKO ecosystem and our mission to create sustainable value for our community, we have carried out the following token burns:
- Phase 1: 107,150 TKO
- Phase 2: 107,149 TKO
214,299 TKO tokens have been permanently burned, representing 10% of revenue generated from trading volume between July and September 2024. Following this burn, the updated total supply of TKO now stands at 496,196,900.66 TKO.
Why Token Burning Matters
The token burn process is a key mechanism in our ecosystem, implementing a deflationary model that permanently removes tokens from circulation. By reducing the overall supply, we aim to enhance demand and positively influence the market value of TKO.
This strategy aligns with Tokocrypto's continued growth as Indonesia's largest cryptocurrency exchange based on trading volume. As we expand, we remain committed to ensuring the long-term sustainability and value appreciation of the TKO token.
Proof of Burn
For transparency, the burn transactions can be verified on the blockchain:
- Proof of burn TKO Burn Q3 2024 - Phase 1: 107,150 TKO (See here)
- Proof of burn TKO Burn Q3 2024 - Phase 2: 107,149 TKO (See here)
We sincerely appreciate your unwavering support in elevating TKO as a key pillar of Indonesia's cryptocurrency landscape. Together, we are shaping a stronger, more vibrant ecosystem for the future of digital assets.
Stay tuned for further updates as we continue to innovate and grow!
Thank you for your support!
TKO Foundation
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