MATR1X Burns 20% of Total Token Supply Prior to Listing on Major Exchanges
CryptoNewsTerminal Staff05 Aug, 2024
MATR1X Burns 20% of Total Token Supply Prior to Listing on Major Exchanges
The Web3 gaming, AI, e-sports, and blockchain infrastructure platform MATR1X has announced a significant token burn prior to its listing on major exchanges. The platform burned a total of 200 million MAX tokens, representing 20% of its total issuance. The burn was distributed across different token pools, including the team, investors, community, and platform contributors. Specifically, 50 million MAX were burned from each of the team and investor supplies, 80 million MAX from the community supply, and 70 million MAX from the platform contributor supply. The move comes as MATR1X prepares for its Token Generation Event (TGE) on May 5th, followed by listings on major exchanges including OKX, Bitget, HashKey Global, KuCoin, and Gate.io at 7 pm (Korean time).
