Thank you for always using CROSS exchange.
We would like to inform you the XEX burn was conducted as planned.
12/5/2019 8:37 AM (UTC)
【XEX Burn Quantity】
As previously announced, we used the funds to repurchase XEX from the market burning the full amount. As a result, the total issued supply of XEX has been decreased.
This will reduce the total issued supply of XEX and reduce the market supply. For this reason, the scarcity of XEX is a strategy used to with expectations of market appreciation.
【CROSS exchange Daily Report “Shared Holder Fund”】
The total amount burned previously: 140,947,256.20678146 XEX, in addition, 19,541,111.88071428 XEX was burned this time being displayed as a negative number.
(Cum. Total: -160,488,368.08749574 XEX)
※ The TOB buyback XEX has not been burned.
This “Fund Burning (XEX)” is the same amount as the “Fund Repurchase Quantity (XEX)”, so you can verify that all the XEX quantity purchased by the Fund are burned.
Details of the XEX burning can also be viewed on Etherscan below:
【Proof of Burning】
Timestamp: Dec-05-2019 08:37:59 AM +UTC (Burn Date)
Burned Quantity: 19,541,111.88071428 XEX
【Proof of Reduction in Total Issued Supply Due to Burning】
Total Issued XEX Supply after burning: 9,719,207,520.613678972518 XEX
→Token: CROSS exchange token
By burning XEX, the total issued quantity of XEX has decreased thereby increasing its scarcity.
※ The timing of the buyback and burning of XEX with Fund assets will not be made public because it will affect the market price, and will thus always be announced after taking into consideration of the timing.
With the CROSS exchange Fund Program, we will continue to use the Fund assets regularly and take positive measures for everyone who owns XEX.
Thank you for your continued support.