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Conflux announced the first CFX quarterly report: over 160 million CFX have been destroyed, and the team has voluntarily locked up over 88 million CFX

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The report mainly revolves around the two cores of "destruction" and "lockup".

In order to better practice the principles of openness, fairness, and impartiality, and to enable the healthy and orderly development of the Conflux network, the Conflux Foundation recently announced the first CFX quarter (November 2020 to January 2021) for the first time. ) financial report. Rhythm BlockBeats found that the report mainly revolves around the two cores of "destruction" and "lockup".

Destroy over 160 million CFX

In terms of "destruction", according to the distribution ratio and distribution rules of the 5 billion CFX Genesis Tokens in the previously published "Conflux Network Economy White Paper", 16% of them are used for private equity investors & funds 36% is attributed to the founding team and seed investors, and will be unlocked within 4 years; 8% is attributed to the community fund, and will be unlocked within 4 years; 40% belongs to the ecological fund, and will be unlocked within 4 years.

Up to now, 6.25% of the CFX belonging to the founding team has been unlocked, totaling 112,500,000 pieces, of which 68,263,750 pieces have been issued , the balance at the end of the period was 44,236,250 pieces.

In addition, 6.25% of the 2,000,000,000 CFX belonging to the ecological fund have been unlocked, and a total of 0.01% of them have been issued , the balance at the end of the period was 124,762,408 pieces.

Vote based on December 14, 2020 network upgrade , among which the voting results of the ecological fund usage (Conflux Network Ecosystem Fund Usage) and the expected cycle of the remaining unissued FC (The remaining FC tokens) are as follows: within the first 6 months after the launch of the Conflux network (Tethys), the ecological fund will be Not used for other purposes, except for storage and gas fee payment subsidy, the rest will be destroyed to address 0 every month. At present, this destruction work has been completed, and a total of 165,429,074 CFX have been destroyed.

The team voluntarily locked over 88 million CFX

In terms of "lock-up", in order to demonstrate the confidence of the Conflux core team in the future development of Conflux, the CFX of all the founders, chief scientists, some seed investors and the team's unallocated part of the Conflux team (the total amount is 88,049,445 ) has been voluntarily locked (the address is at the end of the article), at least until August 2021.

Data shows that the current total circulation of CFX is 554,347,980 , and the amount of CFX destroyed and locked accounted for 45.73% of the total circulation.

The Conflux Foundation stated that in order to ensure the foundation’s financial openness and transparency, the Conflux Foundation will follow up with 3 months as a unit, regularly disclose financial information. In the future, Conflux will continue to demand itself with the highest standards in the industry, continuously improve the quality of information disclosure, ensure that Conflux will always exist under the sun, and contribute to the healthy and stable development of the entire blockchain industry.

In the long run, the intrinsic value of CFX is based on the empowerment of Conflux application scenarios, the expansion of partners, and the project The promotion of ecological construction, and the destruction of some tokens according to the wishes of the community, on the one hand, accelerated the circulation of CFX, and on the other hand, improved the morale of community token holders.

Now, the Conflux network (Tethys) has been online for more than 3 months, and the development team and some investors are willing to lock their positions spontaneously CFX has lasted for half a year, completely dispelling the outside world's doubts about the team and investors "selling and cashing out", which is bound to help boost the confidence of the entire market in Conflux.