XRoad Set to Burn 40 Billion XRI This Month
XRoad unveiled that they have 40 billion XRI burned in December 2021.
XRoad is a project that empowers individual internet users (referred to as X-roaders) to leverage blockchain technology for user-friendly access, protection and control over their data (rights) with XRoad Decentralized Storage, XRoad Locker and Oracle Solutions.
The project aims to reproduce all business models in real and virtual spaces by using cutting-edge technologies like Oracle, scoring and DAO. To achieve the goals, XRoad will be creating a unique metaverse — a virtual space beyond reality that will enable them to deliver unprecedented services and products. Powered by XRI tokens, the project has already entered into various business partnerships with many projects, developing a few platforms and various kinds of NFT products. In addition, they are also planning to develop new advertisement services and expand other businesses they are working on.
Having started with over 50 billion XRI tokens, the project is currently in the process of burning a major portion of the total token supply (40 billion XRI) this December.
XRI Token Allocation
Total Allocation: 50,000,000,000
Token Sale: Private and public sales of the XRI tokenEcosystem: XRI tokens used for the promotion, facilitation, and expansion of the XRoad platformFloating Treasury: XRI tokens used to provide liquidity to the XRoad platformTeam & Advisors: XRI token allocation for all team members from executives to staff and advisors to the projectPartnership: XRI token allocation for partners to the XRoad project
*XRI was listed on Coineal in July of this year.
Why do they burn?
XRI will burn 40 billion tokens in order to benefit their price. They had issued too many tokens and if they left that situation as it was, it would not be good for both of the XRI holders and the project so they made such a decision. As a result of burning a token, they can reduce their circulating supply. And so, the values and the floor price of their token will be raised.
The burning schedule will be announced in the near future, so stay tuned for their latest information.
The XRoad Platform
From their official website, XRoad platform can be explained as below.
“XRoad deploys the decentralized infrastructure needed to serve as the intersection between blockchain technology and the world’s data.
This is possible with XRoad Oracle, Decentralized storage and the XRoad Locker for user-powered interoperability between the off-chain world and smart contracts, as well as for individual data self-sovereignty.”
・Digital NFT (town, E-Sports stadium, etc.)・Various autonomous and decentralized (= DAO) business schemes・A variety of profit models based on various business schemes that link the real world and the virtual world
↓XRI project Introduced on YouTube
By BigBoy CRYPTO