Feel the burn

NOTE 29 November 20:51 CET | The Ether price was locked at 13:00 CET today at €419.66/ETH. This meant a lowering of the hard cap to 35741 ETH and burning 12.5 million unsold GET in the crowdsale partition. The total supply sold in the crowdsale is now at 23,99 million GET instead of the initial 36.9 million GET.

To set an lock-price we have used a website averaging the price of Ether on numerous exchanges.

Reflecting on the price-lock for the general sale

Long story short

More information about the token burn

Long story long

We are holding ourselves to our promise of keeping the lock. The Dutch coat-of-arms is relevant for some reason.

Security & Simplicity

About value investing fundamentals

GET-Protocol fundamentals

Our goals going into the crowdsale

Correcting for over-valuation

When will this burn happen

How many tokens will be burned?

  • 90% of the Tier IV allocation.
  • 90 % if the Tier III allocation.
  • Up until X*% of the Tier II allocation.

Proof of burn

Secret: Sander’s favorite song.

Raising all boats

What does this mean for a value investor

  • Old average price per GET token: €15 million/36.9 million GET = €0.41/GET
  • New (estimate) price per GET token: €15 million/26.7 million GET= €0.57/GET (28% increase).

Burn example

  • In Tier IV : 90% of the 3,821,219 GET will be minted and burned. This means 3,439,097.1 GET will be burned. There will be 382,121.9 GET left in Tier IV.
  • In Tier III: 90% of the 6077430 GET will be minted and burned. This means 5,469,687 GET will be burned. There will be 607743 GET left in Tier III.
  • In Tier II: 6.05% of the 11070000 GET will be minted and burned. This means that 670068.3073 GET will be burned. There will be 10,399,931.69 GET left in Tier II.

BURN FAQ

Why would you burn twice? You’ll burn unsold tokens anyway right? Whats the point of burning now if you are going to burn unsold tokens anyway?

Does this burn effect me if I already participated in the crowdsale?

More about the GET-protocol ICO

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