Greeting!
Today we wish to announce our MZG Token Burn Program, where Moozicore is officially committing to buying back and burning MZG tokens on an ongoing basis.
The Moozicore service has three main revenue streams:
venue subscription fees
advertising
in-app payments
And we can today announce that 10% of all revenue generated via in-app payments will be the reference for the buyback amount of MZG tokens from exchanges. The result of the buyback process will be burning MZG tokens and removing them from circulation forever.
How does it work?
“Burning” means that purchased tokens will be removed from circulation and locked into a public irreversible smart contract address for perpetuity, consequently decreasing the total supply of MZG tokens. This should effectively improve the value of MZG over a long-term period.
At regular intervals, the amount which represents 10% of the revenue from in-app purchase will be used to buyback MZG in quantities that compliment, rather than disrupt, the stability of the Token’s value on exchanges. Eventually, technology will facilitate the automatic buying of MZG in a realtime manner, making the process even more smooth.
By directly linking the MZG token to the service in this way, we are ensuring that contributors will directly benefit from the success of the Moozicore service. The MZG token stays at the heart of the business and service it created.
The process of buyback MZG tokens will be conducted by Moozicore Holding Company - limited liability company registered under laws of Poland.
This is our way of saying thank you to all of the contributors who believed in us. We couldn’t have done it without you!
Stay tuned!
Moozicore Team
