Thank you for always using CROSS exchange.
We would like to inform you of the recent XEX burning we conducted.
3/2/2020 4:40 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 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: 205,734,304.213862 XEX, in addition, 30,691,472.8571 XEX was burned this time being displayed as a negative number. (Cum. Total: -236,425,777.070962 XEX)
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: Mar-02-2020 04:40:48 PM +UTC (Burn Date)
Burned Quantity: 30,691,472.8571 XEX
【Proof of Reduction in Total Issued Supply Due to Burning】
Total Issued XEX Supply after burning: 9,575,687,210.724033 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 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.