After the successful end of our Public Sale at the end of December 2018, we announced our burning event to take place on 1 March 2019. In an effort to stabilize and increase our value, we planned to burn 38,468,534 NAT — the number of unsold from the public . More information about our can be seen .
Since listing on exchanges on 1 February 2019, we announced a buyback program where we aimed to buy back 30,000,000 NAT in 30 days. This buyback program was not originally planned or documented in our whitepaper and was an ad hoc decision from Natmin to help improve our stability and value. We completed the buyback on 28 February 2019.
During the buyback period, we purchased 21,500,000 NAT from exchanges and partners. We decided to burn these rather than lock them for future use. This brought the total number of to be burned to 59,968,534 NAT. As we all like nice round numbers, we have burned a total number of 60,000,000 NAT, reducing our total supply to 340,000,000 NAT.
Our burning function deducts the number of from the owner as well as from the total supply, and then emits the transaction to address(0). Please see the function below:
function _burn(address _user, uint256 _value) internal ownerOnly
The burning event was carried out successfully and the transaction receipt can be viewed here:
Published at Fri, 01 Mar 2019 00:15:51 +0000
