November token burn by DAO Envelop

The core members of DAO Envelop decided to burn most of their tokens for a more even distribution within DAO. These tokens are mostly team and advisor tokens.

A total of 7,944,173 NIFTSY tokens will be burned in equal parts once a month, that is 1,324,029 tokens per month.

Here you can find more information about the

1. first burn
2. second burn
3. third burn
4. fourth burn
5. fifth burn

As a reminder, the remaining team tokens are locked until 2027. 

For a better guarantee, the burning is done in 3 stages:

1. Tokens are added in the collateral of a wrapped wNFT with a prohibition on unwrapping.
2. This wNFT is set to prohibit transfer properties, i.e. we create a SBT
3. We specify the burning address as the owner of the SBT.

The whole process happens in a single transaction https://etherscan.io/tx/0x7a922c80ffd2c211d499c597bd689960927af4a91109d617c11863f8b446adcf

This token in Envelop NFT Explorer https://app.envelop.is/token/1/0x27772e884e9d238F5478c07D44C515bcae585b1d/68

So the total supply now stands at 469,354,832 NIFTSY tokens.

As a reminder, you can participate in the first phase of the DAO Envelop formation.