Eidoo will burn 1% of the total supply. And EDO token gains 50%
Eidoo will burn 1% of the total supply. And EDO token gains 50%
Crypto

Eidoo will burn 1% of the total supply. And EDO token gains 50%

By Ilaria Stirpe - 20 Aug 2018

Chevron down
Listen this article
download

Yesterday, Eidoo announced that will destroy 920’000.00 EDO tokens earned from the ICO Engine service.

Starting August 31st, the Eidoo team will burn 1% of the total supply of EDO tokens.

This is the result of 50% of fees earned from ICO Engine and other services.

The official Eidoo blog, in fact, talks about the fees collected from ParkinGO, Xriba, Ubiatar and ORS, but not only.

This means that the total supply of EDO will decrease in number: the more the service is used, the more tokens will be destroyed.

And this is the reason why the EDO token yesterday gained 50%, arriving at a value of $1,06, while right now its price is $0.91.

Another reason for the gain, as explained in the Telegram chat of Eidoo, might be a few other important announcements related to an upcoming new design for the app, rebranding, fingerprint and face unlock.

Ilaria Stirpe

Ilaria Stirpe, born in the 1990s, expert in Digital Marketing, currently holds the role of CMO in The Cryptonomist. Growth Hacker, Social Media Specialist, Sem and Seo specialist graduated with honors from La Sapienza University in Rome. He achieves several masters and certificates in: Business marketing & project management; Product marketing and management for businesses, Facebook for business, social media marketing; engagement & advertising, SEO specialist and others. Previously he worked as a Web writer, SEO specialist and TV reporter

We use cookies to make sure you can have the best experience on our site. If you continue to use this site we will assume that you are happy with it.