According to our Community Voting, 50,000,000 HELMET Burning would be executed.
YES! HUGE BURN is around the corner — 50,000,000 HELMET tokens will be burnt, leaving total supply at 50 million.
This is a critical decision that will determine the future development of Helmet protocol and the path of community development. Such, in the past 2 months, dev team has been wrapped in making new plans and updates. Here we go!!! ⛑ ⛑ ⛑
Info about BURN:
Burning Amount: 50 million $HELMET
❶ The token Burning time point will be around 01/01/2022 0:00 UTC(since 50% of the token is under time lock, with the unlock date 31/12/ 2021 24:00, i.e. 2022/01/01 0:00) Token burning will be down SAFU, so there would be no specific time point, but it will be done on the Jan.1st.
❷ The total supply of HELMET ,after the burning, will be cut to 50 million, circulating on BSC and Polygon. (you can also transfer tokens to Ethereum via AnySwap without permission, we already made cross-chain with Anyswap)
❸ Now, 50 million token are nearly all in circulation. Under the linear attenuation mining rule, i.e. 1% daily attenuation , there will be generally less and less mining bonus. The bonus is keeping ongoing, never be zero though.
❹ Helmet Governance → H DAO. Voting Incentive would be the focus of future rewards. Means that you can only get incentives if you actively participate in the governance. In addition, you can only get token by trading in the market.
❺ 5% of developer token rewards will be burnt included in the $50 million, which means that the dev team will no longer receive additional incentive tokens.
❻ After the burning, there may be a delay in the info update of the CMC and Coingeko, we will submit the latest information as soon as possible.
❼ We start an Airdrop Campaign to pump up the burning and thanking for your conti-suppport, you could kindly click here to take part in.
These are some necessary info about HELMET Burning. You might be like: will there be a delay in Helmet’s protocols update If there is no further incentive for the developer team? How could the Helmet community step forward? … These will be unwrapped in the next stories of roadmap.
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