NUK Token Supply Reduction

in token •  5 months ago

After much consideration we have decided to reduce the total supply of NUK from 21B to 2B.

This is a supply reduction of approximately 90%.

The goal of this is to facilitate a reduction in our hard cap, prevent market saturation, and minimize the need for a large distribution of unsold tokens at the end of our sale.

Here is how the token distribution will change:

Existing private sale buyers will still receive their previously agreed upon token quantity.

However, in order to make this beneficial change, we need to reduce the quantity of bounty tokens outstanding.

In order for this plan to work we need to reduce all bounty participants totals by 50%. For instance if you’ve earned 1,000 NUK via our bounty program we need to reduce this to 500.

If you’re a bounty participant you’re bounty reward will decrease but your overall stake as a % of total supply will increase. In fact your total reward will increase 500% in relation to the total supply.

We are hoping everyone understands the value in us doing this and how by reducing your bounty reward by only 50%, while reducing total supply 90%, the utility of your tokens is actually increasing.

Our purpose in announcing the intention to make this change is to stimulate discussion and solicit feedback. We expect the community to support this move but do want to provide adequate notice of the change.

Your feedback and comments are welcome on social media.

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