After careful consideration, the Montage Token team has decided to implement a reverse burn for the MTGX token. Montage Token IEO buyers on ProBit Global will receive 7.5x more tokens as a result.
What is reverse burn?
Many projects burn tokens, but what about burning price?
A traditional burn takes tokens out of circulation.
A reverse burn adds tokens into circulation, in this case 7.5x more.
Why a reverse burn?
The Montage Token leadership group seeks to ensure that their global community has the best opportunity to take a position in MTGX at the lowest possible market valuation, rewarding all holders with potential for growth.
The final IEO price of 0.0006 will move to 0.00008 at time of listing, giving MTGX exceptional room for growth.
Effectively, this reduces the MTGX market valuation from $6,000,000 to $800,000 to commence live trading.
This means that if you have $10 of tokens at the original purchase price, you will still have $10 of tokens at the new price, just 7.5x more tokens to show for it.
The total supply will not change – it will remain at 10 billion tokens.
The traditional burning of tokens will still take effect in the near future, and at a lower market cap, will have much more impact.
Please contact the Montage Token project team for more information:
- Telegram: https://t.me/Montagetokenofficial
- Twitter: https://x.com/Montage_Token