Deokho Kang, CEO of Tachyon Holdings and chairman of the Elamachain Foundation, announced the following regarding the token incineration:
"The value of ELAMA, which has been reduced to a tenth of the existing quantity through incineration, will push the price up. It also has the effect of reducing the market impact of withdrawal of swapped ELAMA volume.
Demand will remain constant, but supply will decrease, making ELAMA's economic scarcity value higher for existing investors. This will bring the effect of strengthening the ELAMA ecosystem, which will be used for Hybridbank, Ticker, and Elamachain.
In addition, Tachyon Holdings was launched in 2018 as'Korea's first 4th industry specialization holdings' along with 4th industry technical experts and finance, management, and M&A experts.
Finding, investing and merging next-generation future technology holding companies such as artificial intelligence (AI), system semiconductor, augmented reality (AR), virtual reality (VR), and blockchain, which are the core technologies of the future, and own know-how,'Value-up Protocol' Through incubation to grow the value of the company at a high speed. It is our'mission' to succeed in realizing profits through appropriate exit strategies at the right time, such as M&A and IPO of affiliates, bypass listing, etc. with global partner organizations.
We look forward to your expectations and interests."
Expected buring Date: July 31
Total issuance after burning: 1 billion (1/10 compared to the present)
Applies to: ELAMA
For details, please check ELAMA website or SNS notice.
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July 2, 2020
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