Token Burn — Q4 2021

Token Burn — Q4 2021

  • In order to implement our deflationary tokenomics, 3% of Revenue equivalent GOMT have been burnt in Q4–2021.
  • A total of 5658.613 GOMTs have been burnt as of 3rd January 2022.
  • The burn rate has been increased to 4%, implemented from 1st January 2022.

The Burn Process

  • Initial GOMT Tokens to be burned for Q4 were bought from Hydra DEX.
  • They were added to a “Reserve for Burn” GOMT Wallet. More GOMT Tokens are being added to the “Reserve for Burn” wallet as per the Burn ratio.
  • On the first working day of each month, tokens will be sent to a Hydra burn address from this “Interim Burn Wallet” and the community will be duly notified of the monthly and accumulative burn.
  • A daily automated process will be developed to transfer GOMT Tokens from the “Reserve for Burn” Wallet to the “Interim Burn Wallet” based on daily orders.

Wallet Addresses

  • Buying Wallet: HKztbg3tGBVFb185yD2uAHWGZEnJoyAB4Q
  • Reserve for Burn Wallet: HLjcBs5vNnVQSCf2btrzonYQadjzyYkJwk
  • Interim Burn Wallet: HD5L4zQ9KNwzEC5GbmHzJVVkP5zbQw19Ww

Next Burn — Q1 2022

  • Meaty the bot has started to report the projected token burn for Q1, 2022 as well as the monthly projected burn for each month. The next burn is due at the beginning of Q2, 2021 i.e. April 2022.

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