While we are preparing the return of Midas buyback system with the exchange release, 0.7 BTC worth of Midas coins were burned from the Burn-out activations.
13 600 coins are sent to the Midas burning address:
Overall 130 000 Midas coins were burned, which is 8% of the current supply! Our goal for the first half of 2020 is to increase this value to 20% of the total supply, burning one fifth of all coins in blockchain. It is a lot, but with the upcoming developments, updates for the burn-out and the return of buybacks it is achievable.
For newcomers to community, buybacks mean that we buy Midas coins from the market on 25% of our income and burn them afterwards. This mechanism allows to bind the price of our coin with the real performance of the platform and ensure the stable growth of both Midas and Fline.
Once the exchange starts to generate profits with listings, fees and other features, we will share it with the community by executing buybacks.
Right now there are two ways of accumulating Midas for your future:
- Buy Midas coins on the exchange or using the InstantBuy feature and receive rewards. Do not forget to activate Lock-in, which allows you to use the platform for free.
- Activate Burn-out, helping us to burn even more Midas, while creating a lifetime passive income for yourself. In a short-time we will add a few features for Burn-out to increase its investment attractiveness. So do not miss this train. In the future the Burn-out can earn you more than Midas masternode.
You can learn how to activate Burn-out in this video: https://youtu.be/2zTleQbw8G8