Burned: 35% of the total NAS supply worth 20 million USD - Marking an unprecedented token burn! Nebulas Follow Oct 29, 2019 · 2 min read

To all participants in the Nebulas community,

On October 28th, 2019, the Nebulas community fund once containing a total of 35 million NAS has been completely destroyed. This decision was not taken lightly and in fact was entirely decided by the community via on-chain NAX voting and was approved with an astounding approval rating of 93.15%. In response, and thereby paying full respect to the community decision, the Nebulas Foundation destroyed the remaining 34 million NAS within 24 hours after the community decision was made.

The link below is the location of the community fund containing 35 million NAS which can never be touched again: https://explorer.nebulas.io/#/address/n1gczhpkT54RaT4PB55CNoYbqmEQcfo4hqq

As a result of this burn, the total supply of NAS has been reduced by a whopping 35%. Nebulas’ reserved community fund ranked as one of the largest of its kind. This asset burn which equates to about $20 million USDT in today’s value is also historically one of the largest ever within the blockchain industry.

With the community fund removed from Nebulas’ max supply, there is about 70.21 million NAS (which include bookkeeping income via DPoS); the current circulating supply stands at approximately 55 million NAS.

The development of the Nebulas ecosystem relies on the faithful support from each and every community member. Nebulas has and will continue to make progress in the expansion of decentralized collaboration and the creation of the nextDAO platform.