Rate this item
  • 5.00 / 5 5
(2 votes)

We would like to update everyone of our latest decision regarding the scheduled ATS token burn.

Yesterday, during our first scheduled token burn, we’ve seen a massive coordinated token dump followed by big buy orders happening at the same time through the exchanges we are listed (Bancor, HitBTC, EtherDelta). Market manipulators, through trading bots, took advantage of the sudden price movements and bought for very low just to immediately sell back to the highest bidders from market.

In order to prevent something like this and ensure a stable and fair market, we have decided:

-to burn only a total of 5M ATS tokens

-to burn tokens in very small amounts which will not create big sudden market movements, thus not create an opportunity for market manipulators.

-not to announce the dates/hours when burns will happen

-the 5M ATS will be burned throughout the month of May

Sincerely,

Authorship.com Team

Previous Post Authorship Beta 2.0 is available + Exchange Info + Token Burn
Next Post 5 Easy Steps To Sell Your Book Through Authorship