HLC Token Burning Announcement

2019 Oct 29th

HLC Foundation would like hereby officially announce that Qitmeer test network will be available very soon. Qitmeer main network is the cause of all community members, all depends on the concerted efforts of all communities to achieve success. According to the previously announced test network economic model, we officially began to advocate community users to actively burn HLC token plans, in order to support the test network is fully activated.

1.The HLC burning time period is from 12 am on Oct 30, 2019 to 12 am on Nov 19, 2019, and HLC Foundation will announce the burning progress every 7 days.

2.The number of HLC TOKENs burned this time will determine the next three indicators:

  • What is the percentage of Qitmeer main network?
  • What is the total amount of test coin PMEER?
  • What is the mapped equity ratio of the destroyed TOKEN in the future? The specific benefits generated by the user’s destruction can be found in the economic model section of the Qitmeer white paper.

3.Qitmeer core team is confident that the test network will successfully transfer to the main network in the future. If the human irresistible factors cause the Qitmeer test network to fail and the HLC TOKEN interests destroyed by the community users are damaged, HLC Foundation will use its own 250 million HLC TOKEN, which has been disclosed in the locked position as the compensation.

4.In order to ensure the safety and transparency of the burning plan, we have done relevant test work instructions in the community; at the same time, HLC Token burning record will be saved in the block explorer for users to view. HLC burning destruction program must be operated through the KAHF wallet developed by HLC Foundation.

At present, the destruction page and function in the KAHF wallet have been opened, users can download or update the latest version of the KAHF wallet, the download link of the KAHF wallet is https://www.kahf.io/ , please check out the detailed burning instruction in KAHF wallet, https://www.qitmeertalk.org/t/kahf-hlc.

5.The HLC Token burning program is executed by a smart contract, and it will be automatically closed after 12 am on Nov 19, 2019.

After the user completes the destruction, you will receive the burning certificate. With this certificate, the Qitmeer main network mapping right can be obtained in the future.

(NOTE: Remember to transfer HLC to the burning interface of the KAHF wallet for destruction. Do not transfer money directly from the exchange to the black address. Otherwise, all losses will be borne by the user.)

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