TechFlow news, March 3 — Conflux officially announced a token lock-up and burn update. Based on the voting results of the network upgrade proposal on December 14, 2020, regarding the usage of the Conflux Network Ecosystem Fund and the estimated timeline for distributing remaining unissued FC tokens, during the first six months after the Tethys mainnet launch, funds from the ecosystem fund will not be used for any other purposes. After deducting expenses for storage and gas fee subsidies each month, the remaining CFX will be burned to a zero address. This burn has now been completed, with an additional 41,700,000 CFX burned. To date, a total of 207,129,074 CFX have been burned. Furthermore, to demonstrate confidence in Conflux's future development, following the announcement made in February 2021, all founders, the chief scientist, certain seed investors, and some team members voluntarily locked up their unallocated CFX again. The total amount locked this time is 108,715,081 CFX, representing an additional 20,665,636 CFX locked compared to the previous announcement. These CFX tokens will remain locked until at least August 2021. As of publication, the circulating supply of CFX is 686,107,449, meaning that the combined amount of CFX burned and locked accounts for 46.03% of the current circulating supply.
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