The max supply of CHE reduced to 210 million

After team discussions and negotiations with investment institutions, the plan to reduce the maxi supply of CHE to 210 million will be implemented according to the following:

1. The total amount of CHE held by the team is reduced from 80 million to 20 million.

As of 0:00 on October 15, 23,840,000 CHEs held by the team have been unlocked, of which 3,840,000 CHE have been transferred to the black hole address for destruction.

Hash record: https://www.oklink.com/okexchain/tx/0x4017c7563fbffa933df2996cb9e1f19c0ebade72785c732a986035a7ac71caf9

The unlocked 56,160,000 CHE has been transferred to the black hole address for destruction.

Hash record: https://www.oklink.com/okexchain/tx/0xe0277afda822ae2e0b8f3f044d237289cb66ca82b1f7c46bd5aa9ceed009a01c

2. The total amount of CHE held by strategic financing institutions is reduced from 50 million to 20 million.

As of 0:00 on October 15, 14,900,000 CHE held by strategic financing institutions have been unlocked, and 35,100,000 CHE that have not been unlocked, of which 30,000,000 CHE have been transferred to the black hole address for destruction.

Hash record: https://www.oklink.com/okexchain/tx/0x9902f585e6ca819305bf4497bf8fb220a101bfd4fc7ec716cba8f5497c4f1944

3. As of 0:00 on October 15, the total circulation of CHE is approximately 58.6 million (the unlocked part of the team and strategic financing institutions has not been counted). After implementing measures 1 and 2, the theoretical maximum total circulation of CHE in the market is: 20 million for the team + 20 million for the strategic financing institution + 11.8 million for the unused part of the market + 58.6 million for the current total market circulation = 110.4 million, and the remaining part of the maximum total supply of CHE (i.e. 210 million - 110.4 million = 99.6 million CHE) will be rewarded to users through liquidity mining or decided by users through DAO governance.

In addition, we will strive to start DAO governance process before the GameFi CyberCat is officially launched, and the community will determine the future of the total supply of CHE!

Thank you for your support!

CherrySwap Team