2023-03-01 05:45:50
ENTERBUTTON(ENTC) Token Incineration Policy Implementation announcement
The foundation is implementing a roadmap that was scheduled for about 3 years until March 31, 2024.
The main focus of the project is fairness and transparency.
In response, ENTC foundation will focus on future token policies that are proportional to the increased ecosystem of users and project maturity.
Foundation would like to implement preemptive measures.
[Policy title]
Implementation of the First Supply and Incineration Policy
[Purpose of implementation]
Incineration to adjust the relative value balance of supply to date and in the future.
[For a detailed purpose]
It is essential for the foundation to have reserves until maximum maturity is achieved to expand the ecosystem and revitalize token economy such as B2B in the project.
However, the foundation has a relatively large amount of tokens.It cannot be overlooked that moral hazard, overhang risk can be a factor.
If the supply of tokens is unilateral, the market will have more tokens to digest, so the foundation will only aim for continuous sales even if token prices fall and prices fall.
If such a vicious cycle occurs and repeats, the damage will eventually be borne by the user, and the foundation can turn into the worst policy mind, "we only need to sell tokens no matter how price is going down."
In fact, many tokens fall into such a quagmire and eventually the project loses direction and ends as part of a capital project.
Of course, just because tokens are supplied does not mean an unconditional price drop.
A reasonable supply of tokens can be an opportunity for more users to hold tokens, increase market liquidity, and be a key determinant of the value of the project itself.
That's why it's very important to set a reasonable price and total supply, determined by market principles, as projects mature and begin to grow in use.
Therefore, it was decided to sequentially incinerate 100,000,000 ENTC, which is the same quantity as the supply, by March 31, 2024, as a preliminary response rather than a follow-up.
[Incineration schedule]
01/03/2023
Incineration amount : 20,000,000 ENTC
01/04/2023
Incineration amount : 5,000,000 ENTC
01/05/2023
Incineration amount : 5,000,000 ENTC
01/06/2023
Incineration amount : 5,000,000 ENTC
01/07/2023
Incineration amount : 5,000,000 ENTC
01/08/2023
Incineration amount : 5,000,000 ENTC
01/09/2023
Incineration amount : 5,000,000 ENTC
01/10/2023
Incineration amount : 5,000,000 ENTC
01/11/2023
Incineration amount : 5,000,000 ENTC
01/12/2023
Incineration amount : 5,000,000 ENTC
01/01/2024
Incineration amount : 5,000,000 ENTC
01/02/2024
Incineration amount : 5,000,000 ENTC
01/03/2024
Incineration amount : 5,000,000 ENTC
31/03/2024
Incineration amount : 20,000,000 ENTC
[From ENTC foundation]
The ENTC Foundation does not consider the Enter button project as a short-term capital business or a means of speculation, and is doing its best to become a blockchain project that proves numerous uses and reasons for use around the world.
On the issue of market confidence, which always collapses and recovers again, our foundation will clearly show a different step from others, and we will share the fruits and develop them as a single composition with our users.
We will make reliable and stable projects through reliable and sincere projects that will not collapse even if we go slowly.
From the fourth quarter, we will expand the proportion of user participation according to the maturity of the project, propose and decide policies together, and present the direction of development of healthy projects that the foundation implements.
Thank you.
[1st Burn 20,000,000 ENTC TXid]
https://etherscan.io/tx/0xcbee324bcf2aa85476c84d96d17002f0558cf7900584c90e42e008e14d017c8b
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