We have some great news for you! But first, we would like to thank you for all of your support thus far. Each member is incredibly valuable to us, and we appreciate your constructive feedback. We are always listening, improving, and keeping our community informed. As many of you know, it has been a bumpy road, but we believe the best is yet to come. As of April 29th, all remaining private sale tokens were released and Kambria’s main product launch just around the corner. We are excited to bring you updates and events over the next couple of months. We hope that you will continue to believe in and support us for the long term. Now, for the token burn news.
Burn baby, burn
As for the good news, we are also pleased to announce that we will burn all tokens that were converted into equity. The token burn applies both retroactively and to any tokens converted in the future. At the time of this announcement, about 100 million KAT tokens will be converted. In addition to this, Kambria will use 20% of its profits to purchase KAT off the market. Of the KAT that is bought back (this can be done either quarterly or annually), Kambria will burn approximately 8%.
Kambria’s token burn will commence this Friday at 7 AM PDT (UTC-7). At this time, we will burn 100,000,000 $KAT. This marks the second of many burns.
Now that there are no further token releases, we will focus on the vital ecosystem that we are building and delivering on our roadmap. For those of you who are new to Kambria, please take a moment to read our Business Model Master Plan to better understand where we plan to take Kambria over the next year and beyond, as well as more information about how Kambria utilizes KAT tokens, expands on open innovation protocols, provides services, and much more.
For the sake of transparency, we would like to share with you some data from our token sale.
|Tokens Sold||Rounded number of tokens|
|Private sale||1.195 billion KAT|
|Pre-sale||105 million KAT|
|Total tokens sold||1.3 billion KAT|
|Unsold tokens burned||1.2 billion KAT|
|Total Raised||$15.9 million|
|December 2018||35 million KAT (pre-sale)|
|January 2019||323 million KAT (private and presale)|
|February 2019||35 million KAT (pre-sale)|
|April 2019||807 million KAT (private-sale)|
|Tokens converted to equity (to be burned)||100 million KAT|
We would also like to provide to you the wallet addresses for both the team and the Kambria Foundation.
- Kambria Foundation tokens can be found here. This includes the community building fund.
- Team tokens can be found here. They are locked for two years.
- Transaction ID from the previous burn of 1.2 billion KAT can be found here.
- The address holding the equity converted tokens (to be burned) is here.
We would also like to take the opportunity to remind you that we are still offering both OTC services and equity conversion for those who are interested. In addition to providing the community with a safe and efficient platform to buy or sell KAT, we are offering a generous discount on our equity conversion. If you are interested in taking advantage of either of these services, please reach out to our admin on Telegram or email us at firstname.lastname@example.org.
The Kambria Team
Also published on Medium.