We always wanted to implement changes that are on par with decentralized and public blockchain standards. With our Ethereum to BNB Chain Migration, we implemented a token burn to advance the utility and value of the iOWN Token.
Aligned with our vision, and with the BNB Chain integration release, we burned a total of 100M iOWN Tokens, decreasing our total supply from 450M to 350M.
The Token Burning commenced on March 14 and can be seen on the BscScan here.
The excesses 100M supply from our Ethereum Contract was unused tokens that were not purchased from the private sale, and IEO. The decision to burn the excess tokens is to decrease the total supply and maximize the value of the token. We will always stand for maintain transparency related to our token distribution and any utility updates.
About the iOWN Token:
iOWN Token is a multi-utility token that can be used within the blockchain-based equity crowdfunding platform, iOWNX and is accepted as a payment method by several vendors and other partners.