Blockchain Startup Synereo Destroys Native Cryptocurrency Worth $145 Million
Synereo, the startup behind its namesake decentralized blockchain-based social network has burnt half its holdings of pre-mined AMPs, its native token cryptocurrency. Half of all existing AMPs have been destroyed by Tel-Aviv based blockchain startup Synereo in a move to relinquish its control of over half of the blockchain’s native currency. An aggregated amount of 731,108,937 AMPs were destroyed on Saturday, September 17th. They were held in several cryptographic wallets controlled by Synereo. A majority of those destroyed – nearly 400 million AMPs – belonged to the the company’s Future....
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Distributed app platform Synereo announced that it has destroyed 50% of its native currency, AMP, ahead of a crowdsale, worth roughly $146,221,787 USD on the market. Second Synereo Crowdsale Starting Soon. The move comes just before Synereo’s second round of fundraising in a three-stage crowdsale starting 19 September. The Israeli company originally intended to keep the 731,108,937 now-burned AMP tokens as part of its long-term budgeting strategy. In a statement, Synereo CEO Dor Konforty said it was due to the proof-of-stake mechanism that secures the network. Keeping such a large share in....
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The campaign means to compensate for 50% of Synereo’s AMP holdings that were recently destroyed following a strategic decision. Decentralised social network Synereo yesterday announced the launch of its second fundraising campaign, in which it plans to sell a limited amount of company’s equities and native cryptocurrency AMP to general public. The campaign means to compensate for 50% of Synereo’s AMP holdings that were recently destroyed following a strategic decision. The Tel Aviv-based blockchain startup said in a recent press statement that it does not aim to maintain an “entrenched,....
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