30% CRPT burn 🔥 by mid 2023. Call for update

We think it was mid 2021 that (then) Crypterium announced:

Massive CRPT burn :fire:

A 30% of CRPT supply will be burnt during the next 24 months

And Austim Kimm mentioned in an interview:

Until now, our burning rate exclusively depended on transactions. However, looking ahead we’re planning to redeem tokens from the market for burning purposes.” said Austin Kimm.”

Since then community managers have more than once mentioned ‘the plan has not been forgotten’, but no official update has been released.

Do you also want an update? If this post receives 15 positive replies, I make it into this DAO’s second proposal. The proposal would ask of management to give an update regarding the status of this promise.

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Agree. An update on how this will be achieved will be quite useful.
Most of the focus these days seems to be on CHO
Even the app is called choise.com
People can’t find crypterium.
This will definitely cannibalise the crypterium token if there is no targeted advertising being made towards it.
The 30 percent crpt burn announcement was made before the launch of CHO. Hope the company will still honour its promise.

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Yes an official update would be really really nice!!

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Thx a lot for the support Viresh!
I hope that the move into DeFi will be beneficial for CRPT as well, as more people might cash-out their earnings at choise.com and thus burn CRPT, or load their wallets etc.

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Agreed. This has been the elephant in the room for some time now. The team needs to address this ASAP.

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Hi Athos, thx, do you know other people in the telegram chat who could reply to this post?
David

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Apart from Crypromoonlambo who is also in the ambassador’s group not any other active users…
Maybe also address this to frequent names in the main chat as well. They could (and should) be interested

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Yes please an update would be nice as this was put on crypterium news feed on the 10th June 2021

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I’m not sure if i remember correctly, but i think they said long ago to achieve this burn via getting more customers use crpt as payment method and getting more recognision.

Though my mind is very foggy, but i would also love to see updates on this and also things being done on crypterium side instead. If they can change the code then they could change it to make crpt being more widely used as a tool token, making it more in demand within the application.

For example Kucoin has rather interesting mini-games where you have a chance to win using their own token or usdt, rather in crypterium app using only crpt as game money :tipping_hand_man: just a thought

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Hi Mana, thx for your support and great idea on changing the CRPT code to enhance its function :bulb:!

On the issue of CRPT token burn: they mentioned they would actually ‘redeem tokens from the market in order to burn them’.

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let Austin start buying tokens from the market now. They already did this last year. What prevents us from doing this now in order to spur interest in Crypterium and Choice, since many investors are already ceasing to believe the empty promises of Austin and Vladimir.

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My guess is that they were on pace to accomplish that task based on transactional volume that has since slowed down due to low BTC price.

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They were on pace, you think?

30% is 27.500.000 tokens, and this would be burnt medio next year… We would never make it on transactional volume alone.

I guess that’s why Austin mentioned tokens would be bought from the market!

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If you promised, you should at least update the situation… Yes, we definitely need an update.

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I agree, it would be good to know how they plan to achieve this in the time promised by tx alone. Some clarification in the upcoming roadmap or a separate article with a detailed plan on how this is to be achieved would be welcome by supporters.

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Agreed, we need an update on this from the management on how they will going to achieve this!!

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Right. The team is late with this extra burn. They only burned 1 million, there are still 27.500 million to go, AND THE DEADLINE END IN A YEAR

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Guys this is my first draft of a proposal:

Summary: proposal for the management to give an video update on the plan to burn :fire: 30% of CRPT tokens by mid 2023.

Abstract: in internal and external media (interviews in global media) Crypterium announced that it would accelerate the burning proces by ‘redeeming tokens from the market’ (Austin Kimm), stating that by mid 2023 ‘30% of all circulating tokens will be burnt’. It was -rightly so- advertised as a ‘Massive burn’.

This plan has -obviously- been received with much enthusiasm, as it will positively influence the price of the remaining tokens.

We haven’t had a recent update on this plan.

Motivation: as mentioned in the first proposal, in order to fulfill it’s vision of offering crypto banking to all, choise.com needs to maximize transparency, trust and customer experience.

This topic revolves around transparency and trust. In the CRPT Telegram chat many people have asked for an update the last year. Several community managers have mentioned things like ‘the plan still stands’ etc, but any formal update has not been given.

Now, the 15 most active DAO-members have asked that the call for an update be made into a formal proposal.

Specification: a long due formal announcement/update by management would 1.) acknowledge the legitimacy of the call for an update as a year has passed, would lead to 2.) transparency and might 3.) positively influence trust within the community.

Conclusion: a video update regarding the announced burning of 27.000.000 CRPT tokens (30% of circulating supply)by 2023 is appropriate because of different reasons mentioned in this proposal.

This call for transparency is endorsed by many in the Telegram Chats and has been actively supported by the DAO-forum most active members.

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I’d love an update on this even if it’s not what I want to hear.

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Yes. It’s really important Management Team to be transparent and to keep and follow their promise. Or if the plan was changed to inform the Community!!!

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