Multiplier pledges to burn team allocation of 205 Million MXX

Nov 4, 2020

Multiplier will burn the team’s first token vesting of 205,000,000 MXX on 09 November 2020 and the remaining 20,000,000 MXX tokens will be used to return the liquidity provision loan taken previously.

The move is unprecedented, with Multiplier burning 205,000,000 MXX, worth roughly $1.7 million USD at current prices. Multiplier’s core team allocation burn will better align the team’s objectives with stakeholder interest while focusing on the upcoming grand launch; Multi-Chain (Lend) protocol on Binance Smart Chain.

“We are committed to giving the best to our community and feel that this is the right decision for the entire Multiplier ecosystem. It goes to show that Multiplier is not here for the money but is laser focused on the future. I think that this should further strengthen the confidence of our community”

- Mr. Kim Hui, CEO of Multiplier Finance

With team allocations being a point of contention for many in the crypto-community, where large team allotments dilute holder value, the burn would strengthen the position of the Multiplier ecosystem as it enters the Utilization phase.