Following our successful token sale in July and the first release of our dApp in October, Locklet is excited to announce the introduction of our token ‘Burn Program’.
There is an actual total supply of 124m Locklet tokens and the Locklet Foundation holds 22% of these tokens. As a community driven project we intend to undertake an experimental six-month ‘burn’ program which will be implemented on the 25th of each month, starting this month (November 2021) and concluding on the 25th of April 2022. It will potentially be extended depending on community feedback.
The following table shows the burn rate, including the exact number of tokens to be burnt.
A total of 3,738,085 $LKT will be burnt in this program, representing 3% of the total supply.
In undertaking this burn program, Locklet team said:
By burning tokens the total supply of $LKT decreases and this benefits all current holders, as the value of their holdings will go up, due to less tokens being available in the pool. We are certain all LKT holders will benefit from the introduction of our burn program.
The bonuses to token holders, doesn’t just end there.
In the coming months, additional benefits will be given to $LKT holders including the introduction of a ‘staking’ program that will allow the holder to earn part of the platforms fees (and others bonuses) as well as contribute to Locklet’s future by participating in it’s governance.
This is an exciting time in Locklet’s future, and we want to continue to reward our loyal investors.
Locklet is the world’s first decentralized vesting platform 🧙♂️🎉. It allows any crypto-currency holder to create more or less complex vesting clauses according to their need and have them executed over the desired duration and this is accomplished in a completely decentralized way. Thanks to our platform, serious projects can now cryptographically differentiate themselves from scammy ones!
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