EdenChain (EDN) updates Eden coin circulating supply

EdenChain (EDN) is positioned as blockchain platform of the third generation, aimed at creating a programmable economy. With this platform, it becomes possible to capitalize material / non-material values and trade them in blockchain.

On September 16, EDN tokens were unlocked. On September 21, the project launched its testnet.

On September 23, the Edenchain team announced the update of Eden coin circulating supply.

According to the announcement, the circulating supply for Edenchain tokens will be as per the table below, with a 5-month vesting period:

The announcement reads that Edenchain tokensale was massively oversubscribed and the project achieved the hardcap of 24mil USD, representing 40% (400,000,000 EDNs) of the total supply of tokens.

In addition to that, the team writes, the 15% (150,000,000 EDNs) strategic partners allocation was used to bring onboard several strategic partners including exchanges and consultants.

4.9% (49,000,000 EDNs) allocation for Marketing and Bounty was used as allocation for top influencers. 0.1% (1,000,000 EDNs) from Marketing and Bounty was used for the bounty program.

1.3% (13,191,760 EDNs) were paid out as tokens to exchanges and other marketing-related expenses. These expenses were either incurred or earmarked for exchange listing.

The community is confused, because the Edenchain team said nothing about these additional tokens issued until the community noticed the discrepancy in coin circulating supply.

At press time, EDN is trading at 0.0001482 ETH ($0.04) on KuCoin.

Leave a Reply

Your email address will not be published. Required fields are marked *