HLC Foundation Announcement:

Nov, 20th 2019

HLC Foundation would like hereby officially announce that token HLC burning program has been successfully completed, and HLC burning gateway has been closed as well. As of 12 am on November 19, 2019, Qitmeer community members burned a total of 208,287,911 HLCs, which provided sufficient conditions for the official operation of the test network.

According to the Qitmeer economic model previously released by HLC Foundation, 2.00287911 billion HLC Token have been burned, which means:

  1. The test network token PMEER can be mining a total of 200,287,911;

  2. Test network token PMEER, un-burned HLC, burned HLC, the total of the three parts will be 20.0287911% when mapping on the Qitmeer main network;

  3. The 200,287,911 HLC Tokens that have been burned have a mapping interest ratio of 4.01152% of Qitmeer main network´╝Ť

  4. The HLC Foundation has locked a total of 4.5036880 billion HLC, and the remaining HLC circulation is 349,343,287 million. Qitmeer is currently entering the second game phase of the test network economic model. PMEER and unburnedHLC will compete in the market value of the circulation to determine the distribution ratio of the main network mapping.

For more details, please refer to the test network economic model.