IoTeX launched the “Destroy Airdrop” token mechanism, planning to destroy the 1 billion IOTX token

The Internet of Things blockchain platform IoTeX announced the launch of a “BurnDrop” (Burndrop) token mechanism, which is expected to destroy and airdrop 1 billion IOTX tokens (accounting for 10% of the total IOTX supply) to promote The first batch of 1 million smart devices went online, and the trusted IoT ecosystem powered by “IoTeX” was launched from 0 to 1. Specifically, with the on-chain interconnection of the first batch of 1 million “IoTeX-enabled” smart devices, 900 million IOTX tokens (accounting for 9% of the total supply) will be destroyed, and 100 million IOTX tokens will be destroyed ( 1% of the total supply) will be airdropped to long-term holders (open automatic pledge for more than 91 days). The “burning and throwing” plan will be implemented in 10 stages, with a high destruction rate in the early stage. In the first stage (the first batch of 1,000 smart devices), each newly launched device will trigger the destruction of 90,000 IOTX and airdrop 10,000 IOTX . In subsequent stages, the number of IOTX destroyed and airdropped will be halved in sequence. The plan will be executed based on smart contracts, and the new smart device on-chain will automatically trigger the corresponding destruction and airdrop processes.