We’re reaching out today to inform our valued community of an important update regarding our $ZENNY. In an effort to maintain value for our token holders and ensure the stability of the $ZENNY ecosystem, we have decided to carry out a token burn.
This token burn will involve removing 5% of the maximum supply of $ZENNY from circulation, equating to 1 billion tokens. The scheduled date for this action will be around the 1st of September at 10:00 am UTC. The token will be burnt via sending the $ZENNY to a ‘burn address’, inaccessible to anyone.
This decision is a direct reflection of our commitment to managing our token supply effectively and ensuring a healthy market for our token. It’s a strategic move made with the long-term health of the $ZENNY ecosystem in mind.
In addition to this planned token burn, we want to assure our community that our team will continue monitoring the market situation closely. We are prepared to execute additional token burns, possibly more aggressive if necessary, to further support the stability of the $ZENNY ecosystem.
We believe that this decision is in line with the interests of our community and will contribute positively to the overall success of our project. We deeply appreciate your continued support and trust in $ZENNY.
Further updates will be shared with the community as they become available. Stay tuned!
Update on Burning (1st September 2023)
Our team has executed the token burn of 1,000,000,000 ZENNY to the Burn Address (0x0000000000000000000000000000000000000000) on 1 September 2023.
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