Blog / Quarterly Token Burn #2

Quarterly Token Burn #2

April 12, 2024

The crypto landscape is buzzing with activity - from the anticipation of the Bitcoin halving to significant market movements spurred by Bitcoin ETFs, and innovative developments like Bitcoin Ordinals, Runes protocol, and Coinbase's new "Base" Layer 2 chain. Amidst this, we're here to share a straightforward update on the ADBYTES token and our platform progress.

Second Quarterly Token Burn Completed

Continuing with our commitment to reduce the total supply of ADBYTES tokens and improve their overall value, we've completed our second quarterly token burn. Since our last burn in January, we've removed an additional 135,240 ADBYTES from circulation. These tokens were used on our platform to purchase advertising credits and have now been permanently burned.

For those interested in the specifics, the burn transaction was carried out on the Polygon Network and can be viewed here: https://polygonscan.com/tx/0x8d3b20552c425ccd23b7c97211442e61de51ff83a97510dd690067e3a007aff0

Ongoing Developments

We've hit a new milestone with over 200 unique token holders, showing a growing interest and utility in the ADBYTES ecosystem. Our plans are now set on increasing the number of active publishers and token holders in the coming months. Additionally, we're working on launching a cross-chain token bridge system, which will further enhance the ADBYTES token's utility across different blockchains.

What's Next

As the crypto industry moves forward, so do we. The completion of our second token burn is yet another step in our plan to ensure the ADBYTES token remains valuable and useful. Keep an eye on our updates as we continue to build and improve our platform for the benefit of our community and the wider crypto advertising ecosystem.

Until next time!