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 Amelia Tomasicchio - 20 Aug 2018

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.

Amelia Tomasicchio

As expert in digital marketing, Amelia began working in the fintech sector in 2014 after writing her thesis on Bitcoin technology. Previously author for several international crypto-related magazines and CMO at Eidoo. She is now the co-founder and editor-in-chief of The Cryptonomist, and also PR manager for the Italian market at Bitget. She is also a marketing teacher at Digital Coach in Milan and she published a book about NFTs for the Italian publishing house Mondadori, while she is also helping artists and company to entering in the sector. As advisor, Amelia is also involved in metaverse-related project such as The Nemesis and OVER.