VIABET – The blockchain-powered platform which acts as the technological launching pad that allows regular players as well as gaming companies to create and launch their own casino games. Has reported that it has successfully completed its first ever token burn on December 10th as part of the team’s long-term plan to raise the value of XVIA tokens.
The VIA (XVIA) Token Burn Strategy
Historically when a company burns (destroys) or locks a number of tokens it causes the price to increase. This is due to the law of supply and demand. Since there are fewer tokens available for trade the tokens that are available for trade become more valuable. VIA (XVIA) tokens are needed to use the VIABET platform. XVIA is a cryptocurrency based on the Ethereum technology that allows creating a fair, autonomous cloud-based betting environment for all users.
The XVIA Token Supply Has Been Reduced by 90%
VIABET will be having two (if necessary) token burn events, each at major milestones which will allow to raise the value of XVIA at key points:
BURN 1: The first official token burn has already been successfully completed on December 10th by reducing the overall token supply from 70 million (70,000,000) to 7 million (7,000,000), a 90% decrease.
BURN 2 (if necessary): The second burn will happen in the event that not all 4.4 million tokens are sold and distributed during the Public ICO. It will take place after listing on the first official trading exchange, EtherDelta (Planned for as early as December 12th if all 4.4 million tokens are distributed during that time, otherwise the listing date is scheduled for January 7th, 2018)
With each burn, VIABET aims to achieve a high level of stability and steady overall price increase.
Public ICO to Begin December 11th
The VIABET ICO is set to begin December 11th, 2017 (6:00 PM UTC). However, only 4.4 million XVIA Tokens will be sold during the Public ICO. As the ICO is capped at only 3700 ETH, it is predicted to sell out and close its doors to new investors long before its January 7th deadline is hit. In addition, VIABET has early bird discounts in place to incentivize investor participation, a 20% bonus for early investors is up for grabs.
The project has already met its minimum (soft cap), which was $100,000. Thus, even if it does not hit 100% of its goal, it is still moving forward with its development roadmap and marketing initiatives.
VIABET is primed to become the 800-pound gorilla of the online gambling industry by taking advantage and fully utilizing blockchain technologies in a new and unique way as well as integrating itself with the vast 95% fiat market share of online gambling that cryptocurrency gambling has not yet tapped into.
At the moment, XVIA tokens are going to be available to trade on EtherDelta followed by 4 other crypto-exchanges including, HitBTC, Bittrex, Poloniex, Gatecoin etc.
Learn more about VIABET at – https://viabet.io
Access VIABET whitepaper at – https://viabet.io/viabetio_whitepaper_v1.pdf
Find VIABET on Facebook at – https://www.facebook.com/viabetio
Follow VIABET on Twitter – https://twitter.com/viabetio
Join The Official VIABET Telegram channel – https://t.me/VIABET