DAO Governors Approve Vote to Burn 54% of Total Token Supply
The ActaFi DAO Governors recently conducted a vote resulting in a decision to reduce the total token supply by 54%. This reduction involves cutting 54% from every allocation, with each allocation maintaining its respective percentage of the total token supply.
The driving force behind this voting proposal stems from a fundamental issue. When integrating Venture Capitalists (VCs), Key Opinion Leaders (KOLs), and Influencers into the cap table, the team had to refund retail investors, amounting to a substantial $2.2 million refund. Additionally, presale investors committed to providing services such as content creation, designs, videos, etc. However, a significant portion failed to fulfill their pledged services. To compound the situation, some even ceased sharing updates about the ActaFi Ecosystem with their communities post-TGE, resulting in a lack of education among investors regarding the ActaFi Ecosystem. Consequently, Acta Finance suffered from a diminished audience and an even smaller user base.
Collaborating with the DAO, various solutions were explored. Among the approved measures was the decision to freeze vesting schedules for KOLs who failed to deliver on their commitments. While this action aligns with Acta Finance's agreement with KOLs rather than with investors directly, it has become apparent that some KOLs are indifferent to their investors losing access to their tokens. This is a concerning development, and we encourage investors to investigate the reasons behind the blockage of their access to the ActaFi Vesting Portal. Despite facing setbacks, the team has continued to deliver on their developments. However, the absence of an engaged audience and user base has hindered the utilization of available liquidity.
It is important to note that the intention is not to 'punish' investors, even in cases where KOLs have not fulfilled their obligations. To address the situation, a proposal was presented, voted on, and accepted to mitigate losses by burning the remaining vested tokens. Under this plan, every investor can claim 46% of their token allocation, and the remaining 54% has been sent to a burn address.
In the interest of fairness, the burn will apply uniformly to the total token supply and each allocation category, including Team, Advisors, Treasury, Incentives, Presale Investors, and more. This approach ensures that each investor's allocation percentage remains consistent relative to the total token supply.
Total ACTA Token Supply Reduction
- Initial Total Token Supply: 195,000,000 ACTA
- Reduction Percentage: 54%
- Calculated Reduction: 195,000,000 ACTA * 54% = 105,300,000 ACTA
Previously Burned ACTA Tokens:
10 million ACTA tokens were burned in a previous transaction: Transaction Link
Remaining ACTA Token Burn:
The remaining burn involves 95,300,000 ACTA tokens: Transaction Link
These transparent calculations and transactions highlight the reduction in the total ACTA token supply and the corresponding burns, providing clarity to the community regarding the changes in the tokenomics.
With the successful reduction of the total token supply and presale investors’ allocation being 100% liquid, ActaFi is poised to strategically propel the growth of its ecosystem. This initiative is geared towards maximizing benefits for both ACTA Token investors and ACTA Token holders. As P2P Solutions (consultancy) transitions to a new venture, it not only streamlines operations but also presents a myriad of business development opportunities.
This pivotal moment opens the door to innovative strategies and partnerships that will contribute to the expansion and enhancement of the ActaFi Ecosystem. While specific details remain confidential pending community approval, we are committed to providing comprehensive information once we receive the green light to communicate openly with the community.
The ActaFi team is excited about the prospect of leveraging this reduced token supply and the newfound liquidity to fuel the ecosystem's growth. We believe that these strategic steps will not only fortify the ActaFi community but also create a thriving environment for both current and future investors.
Stay tuned for further updates, as we embark on this exciting journey towards a more robust and prosperous ActaFi Ecosystem.