Tweets and Burns
Wow, what a eventful first day following the end of our IDO launch! A lot of events occurred that directly play into our tokenomics and as a result, all of the MIT holders were able to enjoy all of the benefits. We are again thankful for your initial support and believing in the project, we couldn’t have been able to pull it off without you.
As we were all following Elon in his the Saturday Night Live appearance, inevitably there was talk of crypto and that triggered our first “Muskimum Impact Event” which resulted in MIT tokens being burned from our treasury supply. Shortly after the IDO ended, we already burned 50% our treasury supply tipping the market in favor of everyone who supported us early on. The treasury was holding 147,600,000,000 MIT, so we burned half! 73,800,000,000 burned token on the first day!!! Thank you Elon!
Proof of burn: https://bit.ly/2Q93IeW
Not even 20 hours later, as we were preparing new events for the community, Elon dropped another crypto related tweet and that meant that actions were to be taken again. A 2nd burn took place immediately, cutting down our treasury by 50% once more. The treasury was holding 73 800 000 000 tokens at the time of the tweet, so we burned half, which means another 36 900 000 000 $MIT are gone for good.
Proof of burn: https://bit.ly/33wr8Od
The mint authority was also renounced, during the IDO. No new MIT tokens can ever be created. The supply is fixed, however there is still a lot left to burn :)
What a crazy first day! Less than 24 hours after launch, almost 75% our supply was already burned. You guys are a worthy community and we look forward to bringing you additional events and content. Thank you very much for all the support!