Today, the Nebulas community has overwhelmingly decided via on-chain NAX voting to burn the reserved community fund containing 34 million NAS. The destruction is planned to take place within 24 hours of this announcement. In addition, 1 million NAS from the community fund has already been burned on October 8th; as a result, the entire community fund containing 35 million NAS will be destroyed. The current NAS total supply (included the DPoS bookkeeping income) is about 70.21 million NAS with a total circulating supply of about 55 million NAS.

This community decision utilized the NAX Smart Asset to vote via the Nebulas blockchain. NAX is distributed via NAS dStaking (which is the first nextDAO platform service). The amount of NAX distributed is determined daily according to the amount of NAS dStaked and the duration of the stake, thereby, NAX is a reflection of the contribution and commitment of the token holders. This vote followed the spirit of decentralized governance of blockchain.

In addition, this past vote is the largest amounts of assets in two years (at today’s price, about 24.5 million USDT) to be decided via community governance. This has been a grand step — not just for Nebulas but for the entire blockchain industry!

Overview

Should The 34M NAS Community Reserve Fund Be Burned Immediately?

Screenshot of the voting page: https://nebulas.io/burn-3400w-vote.html

A total of 4,039,768 NAX were utilized via voting and in total, 93.15% supported the immediate burn.

Disclaimer:

1. For the final plan of the community reserve NAS, please refer to the relevant announcement issued officially from Nebulas;

2. Please be diligent to spot fake applications, false news, phishing websites, phishing emails, fake customer service, etc… The Nebulas team will not ask the users for their private keys, please be wary of fraudulent deception! The Nebulas is not responsible for any loss caused by users or third parties.