KickEX crypto exchange burned tokens for $322 million

Cryptocurrency exchange KickEX has completed the burning of KICK tokens, which was planned as part of the launch of the hyper deflationary model.

“We planned to burn 85% of the KICK tokens that were in the company’s possession, but ultimately 870,555,819,528 KICK tokens were destroyed, which exceeds 85% of the total liquid volume,” commented Anti Danilevski, founder and CEO of the KickEX crypto exchange.

Some of the company’s tokens, commission tokens, unused pool tokens, and some of the frozen tokens were burned from the circulating KICK volume. Thus, at the moment, the total number of KICK tokens is 1,251,233,467,898, and the tokens in circulation are 125,805,722,487. Burning tokens will allow holders to increase their share of token ownership, as well as raise the KICK price. This is primarily beneficial to those who buy KICK tokens and view them as a long-term investment.

We also note that the frozen tokens will cease to exist and will be deactivated forever on July 1, 2021.

Please note that no wallet of any user was affected during the token burning process.

Recall that the burning of tokens is a planned event that will help reduce the total number of KICKS and increase the value of the coin.

Liquid token burning transactions:

Frozen tokens destruction:

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