The UpToken Burn Is Complete

Another week, another exciting UpToken announcement!

Last week, we were able to share with you that industry-leading digital asset exchanges Bittrex, Upbit, and Bancor all added UpToken to their platforms. Moreover, the industry’s top token tracking sites such as CoinMarketCap, LiveCoinWatch, Bitgur added UpToken to their platforms.

While that is all incredibly exciting, we are even more excited to announce that on March 21st, our Senior Blockchain Engineer (and inventor of the Token Sale), J.R. Willett, completed a token burn. As detailed in the Terms of Sale, the team created 10,000,000,000 UpToken for the sale, with the intent of burning any unsold tokens. At approximately 9:14 am PT last Wednesday, we completed the token burn. You can see the transaction here.

As shown above, after the burning 9,815,362,000 tokens, the total global supply of UpToken was reduced to 184,638,000. Additionally, as promised in the whitepaper, we also moved 36,927,602 UpToken to the Coinme UpToken Vault. Per the terms of sale, the vaulted tokens will remain locked until we deploy 500 ATMS.

Therefore, the total circulating supply of UpToken after removing the amount in the Coinme UpToken Vault (as well as some tokens still to be distributed) sits at 136,471,746.

We are thrilled about the rest of 2018: with our next wave of crypto ATM deployments beginning in April, as well as some exciting updates to our wallet coming soon after, we know that 2018 is going to be a banner year for Coinme. Thank you so much for being on this journey with us!