Major Update: 1 billion NTK Token Burn (13.8% of the total supply)
We will be conducting a token burn Saturday August 8, 2020 where 1 billion NTK tokens will be burned across the operations/development wallet and team wallet.
Why is the token burn occurring?
The team has self funded the majority of Netkoin’s operations and development up until this point. We have decided to continue funding the project and not rely on the tokens we control to do so.
Netkoin is building an ecosystem with the aim to generate revenue from businesses joining the platform, unlike other projects we do not solely rely on our NTK allocation to operate.
Therefore we will be burning all the NTK in the operations and development wallet and also burning 740,173,918 NTK from the team wallet. This token burn will not only reduce the total supply of NTK by almost 14% but will also reduce the percentage of the supply the team holds.
New token allocation breakdown after burn occurs:
Team: 1,759,826,082 NTK
Total burn amount: 1,026,060,094 NTK
Circulating supply: 4,640,173,918 NTK
New total supply: 6,400,000,000 NTK
The team will provide proof of the burn (Etherscan link) after it occurs Saturday August 8, 2020.
A request to update the total supply on CoinMarketCap, Coingecko and other crypto trackers will be submitted after the token burn is completed.
We appreciate the continued support from the community.
Regards
The Netkoin Team
Learn more about Netkoin: https://www.netkoin.com
For more information about the Netkoin and updates, join us on Telegram: https://t.me/netkoindiscussion
Twitter: https://twitter.com/netkoin
Trade Netkoin (NTK):
Mercatox: https://mercatox.com/exchange/NTK/ETH
Uniswap: https://bit.ly/3g5vNvf
Brief Overview of The Netkoin project
Netkoin (NTK) is an ERC20 token based on the Ethereum blockchain. The NTK token will be used to power Netkoin’s universal rewards system on Netkoin’s location based mobile application and business management platform.
Netkoin’s location based mobile advertising application aims to make retail shopping relevant and rewarding for customers based on their location. The mobile application will contain numerous features and filters in order to provide the customer with a personalised retail shopping experience, while maintaining the highest level of user’s data security and privacy.
Netkoin’s business management platform will be utilised by retail stores to enable business owners to manage their stores advertising on the Netkoin mobile application. Businesses can integrate their store’s social media content, providing them with a single place of advertising their businesses content with shoppers. Therefore reducing content marketing management by the retail business marketing team.
Disclaimer
The information contained in this document are not purported to represent advice that can be relied upon. Netkoin, the author or any other persons involved in the preparation or distribution of this presentation expressly disclaim all and any contractual, tortious or other form of liability to any person in respect of this document and any consequences arising from its use by any person in reliance in whole or any part of the contents of this document. Netkoin accepts no liability for any loss occasioned to any person acting or refraining from action as a result of any material in this document. The information contained in this document shall not in any way constitute a recommendation as to whether you should invest in any product discussed in the document.
© 2020 Netkoin. All rights reserved.
Netkoin Pty Ltd — Australian Company Number (ACN): 615 339 074
