The burning of 10,374,651.16 excess KNC tokens took place less than 24 hours ago.

As we mentioned in our token sale terms, a total of 226 million KNC tokens was minted, out of which 61.06% was allocated to the public via our token sale and distributions programs.

We computed a smaller figure but decided with 226 million inclusive of a healthy buffer in case of contingencies. We had also indicated that the excess tokens, once collated upon the successful completion of the token sales exercise, will be destroyed.

Staying true to our promise,I am pleased to announce that the stated excess KNC tokens, i.e. 10,374,651.16 KNCs, were burned over 2 transactions. The first transaction was a test burning involved 1.16 KNC while the second transaction destroyed the remainder of the excess tokens.

The updated number of existing KNC tokens is now 215,625,348.84. That being said, the number of tokens in current circulation is 134,132,696.93. Do note that tokens reserved for founders/advisors has a total vesting period of 2 years with a year lock up.

Finally, we will work with Coinmarketcap and other related online portals to display the updated circulation supplies.