IMPORTANT BOUNTY UPDATE
As you may or may not know, VIABET has recently undergone its first official token burn by reducing the overall token supply by 90% (70 million to 7 million) as part of the team’s long-term plan to raise the value of XVIA tokens.
What does this mean for bounty participants?
Historically when a company burns (destroys) or locks a number of tokens it causes the price to increase. This is due to the law of supply and demand. Since there are fewer tokens available for trade the tokens that are available for trade become more valuable.
With that in mind, the bounty distribution has also been adjusted to reflect the current circulating supply of tokens. As of now, VIABET will distribute 49,000 VIA (XVIA) Tokens as a bounty reward following the crowdsale. We hope that you can see the long-term value of this move.
BOUNTY DISTRIBUTION
Name: VIA
Symbol: XVIA
Standard: ERC20
Total Supply 7,000,000 VIA
Distributed during ICO: 4,900,000 VIA
Price Per Token: $0.43
1 ETH = 1000 VIA
We will distribute 49,000 VIA (XVIA) Tokens as a bounty reward following the crowdsale.
The Bounty campaign will last from:
October 27th, 2017 to January 7th, 2018.1 ETH=1000 VIA (XVIA)
Total Bounty pool will be divided as follows:
Social Media Campaigns: Twitter (40%), Facebook (35%), Telegram (2,5%), Medium (2,5%)
Translations: (20%)
PAYDAY
Participants will be paid at the end of the campaign by stake basis.
Payouts for all bounties will happen after the ICO ends (January 7th, 2018).
Tokens will be distributed within 1 week of the ICO ending.
The first official XVIA token burn has taken place and has been successfully completed on December 10th by reducing the overall token supply from 70 million (70,000,000) to 7 million (7,000,000), a 90% decrease!
XVIA Token Burning Process
Burning tokens or coins is basically sending them to an address that locks them away. The lock is being guaranteed by choosing a receiving address that is extremely unlikely to ever generate. Therefore we chose the following address for burning XVIA tokens:
0x0000000000000000000000000000000000000000
To achieve a proportional distribution of tokens, a total of 44,003,202.25318785468 XVIA were burned from the original ICO distribution wallet, as well as 18,900,000 XVIA from the owners' wallet. Which leaves us with a total circulating supply of 7 million (7,000,000) XVIA Tokens or 1/10th of the original allotment.
Both token burn transactions can be confirmed by viewing the tx ID’s which are as follows:
https://etherscan.io/tx/0x1f7e5672ae8eebec318928bc6c7eb55c655e79603fceefd0fed40c95d58da1de
https://etherscan.io/tx/0x2a78c6d0d82094832bbf161eee44669238a8b73c6ec682c681122945a6a93c2a
BURN 2 (if necessary): The second burn will happen in the event that not all 4.4 million tokens are sold and distributed during the Public ICO. It will take place after listing on the first official trading exchange, EtherDelta (Planned for as early as December 12th if all 4.4 million tokens are distributed during that time, otherwise the listing date is scheduled for January 7th, 2018)
With each burn, VIABET aims to achieve a high level of stability and steady overall price increase.
