Envion Token Burn Process after KYC
As envion nears the completion of the KYC process, we want to inform you about the process for destroying excess EVN tokens. Background: for the distribution of tokens to investors who paid with credit card, Bitcoin, bank transfer, and for pre-ICO investors, envion is in the possession of bulk accounts that hold EVN tokens. Any tokens not needed for this purpose will be burned afterwards.
Overview of the burn process:
Envion will publish final numbers about total tokens sold and KYC-verified investments once the KYC process is terminated. The cut-off / termination date for the KYC process has yet to be determined and will be communicated in advance.
Envion will then burn excess tokens in bulk accounts by sending them to the Null address. Based on the final number of EVN tokens, envion will recalculate the exact number of tokens for envion AG (5%), founders (10%) and bounty program (2%). Based on this calculation, envion will burn excess tokens in these accounts (see step 2).
Envion will then publish the utilized scripts and transaction logs of this burn process in a medium article and upload all process data to envion’s github.com account.
Your envion team