[Q2-2020 Revenue Burning] 1.86M HUNT Tokens Burnt
HUNT Network is running a unique token model called - HUNT Network and Token Burning System. As more of the DApps on HUNT Network gain a revenue stream, it is designed to increase the value of HUNT token.
Currently, Reviewhunt is our only DApp that contributes to the burning system because it’s our only platform generating revenue in the hunt network. The 10% fee revenue from the non-HUNT payment methods from both makers and hunters on Reviewhunt are converted to HUNT tokens and burnt on a quarterly basis. The first fee-based revenue burning was performed on May 27, 2020, with the amount of 1,311,205 HUNT (0.26% of the total supply at the moment).
2Q 2020 Token Burning Today
Today we burned the tokens for the second quarter of 2020 which is from April 1 - June 30, 2020. The total amount we burned is 1,868,664 HUNT (worth $5125.67 USD). This is 0.6% of the total supply. You can see the burning records here - https://etherscan.io/tx/0xde774b055ec22a8e1755b53274ac032e317167b9276f3ea54c2ed57c0c45e139.
The total supply of HUNT tokens has now decreased to 310,241,461 HUNT which is 62% of the initially issued tokens. Our goal is to keep burning the tokens based on our platform revenues so that the token value can be increased as the revenue increases.
You can find out the burning records via http://hunt.town/.
HUNT Network - https://token.hunt.town/
Reviewhunt - https://review.hunt.town/
Github | Discord | Telegram | Kakaotalk