Metabit Network will destroy 35 million tokens, accounting for 23.6% of the total circulation

On September 9, the public chain project Metabit Network announced that due to the conflict of development strategy concepts, it was affected by the malicious smashing behavior of the former team, resulting in huge fluctuations in the price of BMTC. The foundation issued the following measures:
BMTC Token Destruction Program
The total issuance of BMTC tokens is 1 billion, and the circulation plate 150 million, of which IDO, seed round, institutional round, foundation and team released a total of 70 million tokens. After active communication with the above parties, the foundation reached an agreement and decided to destroy 35 million tokens at one time within a total of 7 days, accounting for 23.6% of the total circulation.
The above destruction plan accounts for 70% of the tokens released by the foundation, 60% of the tokens released by the team, and 50% of the institutional round. For the seed round and IDO, the foundation and some investors also reached a consensus and agreed to participate in the destruction.
· Repurchase program
Recently, the Foundation has repurchased 1.10 million tokens from the exchange and will also participate in the destruction plan.