DMEX’s Fourth Buyback-and-Burn Operation Just Destroyed Over 380,000 DMC

1 min readJun 7, 2021

On June 7th, 2021, DMEX has successfully completed its fourth buyback-and-burn operation. A total amount of 383,809.67 DMC tokens have been transferred to a black-hole address and burned. The black-hole address is 0x0000000000000000000000000000000000000001. As of now, DMEX has destroyed over 950,000 DMC, with a total value of more than 100,000 USDT.

DMC is the platform token of DMEX. The total issuance of DMC is 100 million, 50% of which is generated by mining. The mining reward will be halved every six months.

On a monthly basis, DMEX will allocate 80% of the total platform fee revenue toward user benefits, among which 40% will be designated as the reward for DMC mining single token staking pool, 60% will be invested on buyback-and-burn until the total remaining DMC amount is 21 million.

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DMEX is a decentralized mining power financial service platform utilizing DAO and smart contract to provide innovative DeFi and NFT products.