Burn of Lean Management Tokens and Future Steps. We are pleased to inform all Leancoin holders that we have burned all our held Lean Management Tokens – a total of 1,476,360.40 Lean Management Tokens. The equivalent of these tokens in Leancoin, based on a 500 ratio – 738,180,199.40 Leancoin – has been transferred to the Burning Wallet where they will be burned at a rate of 5% of the total wallet monthly.
Below are the links confirming the transactions on both ETH and SOL:
- ETH Transaction for burning all managed Lean Management Tokens
- SOL Transaction for burning transfer of an equivalent of Leancoin
The Burning Wallet is secured by a smart contract, and the team does not have access to it. What is deposited into the wallet will never be withdrawn, only burned according to the established ratio. The smart contract for the Burning Wallet has been verified by Hacken, and the audit of the entire smart contract received a rating of 9.7/10, and 10/10 for Security.
Thanks to sending Leancoin to Burning Wallet, the circulation supply was reduced from 2.80 billion to 2.04 billion.
Burn of Lean Management Tokens – Core Team Wallet
In addition, 150,000 Lean Management Tokens for the Core Team were transferred directly to the burning wallet. The equivalent in Leancoin – 75,000,000 Leancoin – has been transferred to the Core Team address (cold Wallet). These tokens will not be touched by the team for a minimum of one year from June 15, 2023. Moreover, these tokens will not participate in the decentralization promotion action – 50% APY.
- ETH Transaction for burning all Core Team Lean Management Tokens
- SOL Transaction for Core Team Leancoin tokens that will not take part in the decentralization reward program
With this announcement, any support from our team for the Lean Management Token ends. This project was very important to us, and thanks to it, we can develop a much larger project like Leancoin. It was also unthinkable for us to develop web3 on the ETH Blockchain due to high transaction costs and long order execution times. On the Solana Blockchain, transactions are executed instantly, and the transaction cost is less than $0.001. We are excited about our future with Leancoin!
