FRED Energy Burns 50% Token Supply

Goodbye my old friends, imprisoned forever in blockchain limbo, never to return

Future plans for our project include our swap app which will enable our token holders to swap from FRED (Stellar) to FREDx (ETH). We originally reserved 404M from both blockchain assets as a reserve for the swap pool. The team felt a little uneasy at the thought of 50% of the supply being held in a pool and decided to burn the tokens to reduce risk.

We will now use tokens from the project reserve allocation of approx 10M to seed the swap pool. The swap pool will be coded to ensure that once supply from one side is exhausted, no more swaps can be made until swaps from the other side have replenished the pool. The desire is to have a push-pull effect between blockchains and tokens.

The token burn accomplishes a few things;

  • Reduced risk due to number of tokens being held in swap pool

Token burn tx information;

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Developing green energy projects using blockchain & promoting greater adoption and generation of alternative energy by consumers#FRED #Stellar #SOLS #Blockchain