SMART VALOR has announced that starting on the 6th of December and until end of 2019 it will burn 25 million VALOR token. This will reduce the total token supply of VALOR by 25%, from 100 million to 75 million.
The token burn will happen in three tranches:▶ 6 December 2019: 9,000,000 VALOR ▶ 13 December 2019: 8,000,000 VALOR ▶ 20 December 2019: 8,000,000 VALOR
“It is an eyebrow-lifting move for most people familiar with traditional finance” said Olga Feldmeier, CEO of SMART VALOR, who was previously Executive Director at UBS, the world largest wealth management bank headquartered in Switzerland. “While governments push gas pedal on money printing and traditional companies are issuing more shares diluting existing shareholders, the concept of diminishing supply in the token based participation models such as Binance and SMART VALOR is a new way to create value for token holders. With this big move we demonstrate our commitment to keep the supply of VALOR in tight control as the way to insure increasing value.”
For the holders of VALOR the good news of the large scale token burn come in addition to the launch of the implementation of the VALOR utility along the roadmap announced in October 2019. The first major feature, the payment with VALOR token on the SMART VALOR exchange was recently enabled. It gives the user the discount of transactions fees due in the amount of 30%. More exciting features of VALOR will be enbled in 2020 such as membership staking and buy-backs. Another distinctive feature of VALOR is staking where VALOR holder can earn up to 15% of passive income to the holders of tokens.
In an interview, David Johnston, Founder and Chairman of Factom and investor in SMART VALOR said: “Currently VALOR has the highest potential of the native exchange tokens and is well positioned to benefit from the rapid growth of Decentralized Finance in 2020.”
SMART VALOR is Europe’s Premier Digital Asset Exchange perusing the vision of making it easy to invest in cryptocurrencies and tokenized real assets. The company is backed by leading venture capital funds from Switzerland, US and Asia and is authorised to act as Financial Intermediary member of VQF. The exchange services are provided through SMART VALOR AG Liechtenstein is a fully owned subsidiary of SMART VALOR AG, registered in Vaduz, Liechtenstein as exchange business.