Dear BinaryX Community Members,
To further enhance the scarcity and market value of the BNX token and increase the long-term appeal and sustainability of our project, we plan to initiate a vote to reduce unminted tokens. We invite every community member to participate in this vote and jointly decide the future of the project.
Purpose of the Vote
To reduce currently unminted tokens, thereby decreasing potential market supply, enhancing the token’s scarcity, and increasing its market value.
Proposal Details:
- Reduce the number of unminted tokens and max supply, lower the fully diluted market cap, and increase the BNX token’s value potential:
The max supply of BNX tokens will be reduced from 2.1 billion to 580 million. The reduction will apply to unminted tokens only, so tokens already mined and held by users will not be affected. Once the new max supply is reached, the production of new BNX tokens will be ceased, and BNX will officially transition to a deflationary model.
2. Redistribute tokens held by the BinaryX team to the community as an Ecological Fund and Incentive Pool to reward our users:
The BinaryX team address currently holds a total of 240,226,239 BNX tokens. These tokens will be allocated as follows:
- BNX Ecological Fund: 100 million BNX tokens will be used for future ecological development investments of the BNX project. This will include strategic investments to bring more quality projects into the BNX ecosystem, creating more benefits for users.
- BNX Ecological User Incentive Pool: 135 million tokens will be used to incentivize BNX ecosystem users. After all BNX tokens have been mined, the incentive pool will continuously distribute rewards to users.
- BNX Team Assets: 5,226,239 tokens will be used to cover BNX project development and operational costs.
The BinaryX team will continue to inject new assets into the BNX Ecological Fund and Ecological User Incentive Pool through project revenue, ensuring the project operates stably and sustainably while maintaining the deflationary nature of the BNX tokens.
Details of the Vote
Snapshot Time: 23:59:59 UTC+8 21 July 2024
Voting Period: 00:00:00 UTC+8 22 Jul to 00:00:00 UTC+8 24 Jul
Voting Platform: Snapshot
Voting Link: https://snapshot.org/#/binaryxcommunity.eth/proposal/0x8551cbe5781409f29325c43fa39b4402c01fe802a5cb6affce63a9efa7a83540
Voting Content: Do you agree to reduce the unminted tokens?
Option 1: Agree to reduce
Option 2: Disagree to reduce
Transparency of the Announcement
To ensure the transparency of the voting process, we will announce the voting results after the voting ends.
Our Commitment
We are committed to creating a fair, transparent, and long-term project. Your vote is crucial and will directly impact the direction of the project. Thank you for your support and participation!
If you have any questions or suggestions, please feel free to contact our community administrators or leave a message in the community discussion area.
Thank you for your support and trust in BinaryX.
About BinaryX:
BinaryX is a leading GameFi and IGO platform committed to delivering cutting-edge gaming experiences backed by blockchain technology.
Offering Initial Game Offering (IGO) services, BinaryX gives game developers the opportunity to launch their GameFi projects on their platform, and for users to get early access to innovative new games.
As one of the top 10 projects on the BNB Chain, BinaryX has a vast community of more than 100k coin holders and 30K monthly active wallets. With the token $BNX, BinaryX is also one of the top few metaverse projects by trading volume on the BNB chain, with a strong market cap.
For more details and information about BinaryX, please visit www.binaryx.pro
*End of Article*
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