As part of our commitment to everyone invested in the project, the Buddy team will be burning 5 billion tokens on May 6th, two weeks from now. We recognize that our investors play a crucial part in getting the project off the ground and that’s why we’re continually looking for ways to make BUD the coin that everyone in the cryptocurrency space wants a piece of.
The Token Burn
This will mark the third burn in Buddy token’s history.
The first and second burn reduced the total supply of BUD down to 52,949,500,000. By burning an additional 5.949 billion tokens we will be reducing the total supply of BUD by a further 10 percent. That’s a significant number considering that when a project like Binance Coin burns less than 1% of its total supply there is a noticeable appreciation in price.
With less coins in the circulating supply each one will be worth more and all of the holders of the BUD token will be rewarded accordingly. Our expectation is that the coin burn, combined with our recent listing on IDEX, will not only boost the price but will increase awareness of Buddy and our goal of decentralizing the world’s data centers.
What’s Next for Buddy
While the development and adoption of the BUD token continues to be our primary focus, and we look forward to more token burns in the future as our roadmap unfolds, the Buddy team is also focused on the launch of the BEQ token. BEQ will be an STO (Security Token Offering) which will allow investors to purchase ownership in Buddy.
BEQ holders will not only own a piece of Buddy, and gain exposure to subsequent increases in valuation, but they will be able to receive dividends through the token. While the exact numbers are still being figured out, BEQ holders can expect to receive customary dividends according to normal accounting methods.
Finally, BEQ holders will also have a say in the governing of Buddy. We’re looking forward to working with our investors on an even deeper level and seeing what ideas they have to help us improve Buddy and continue to increase the value offering of the BUD token.
All in all it’s an exciting time for us at Buddy and with the token burn, listing on the IDEX exchange and upcoming BEQ token, we believe that there has never been a better time to get involved in the project than now.