🔥THE ULTIMATE NT BURNING PLAN — 575,000,000 NT To Be Burnt
To decrease the potential NT circulation, empower the NT’s value as the NEXTYPE ecological token, and bring more confidence into our community, team NEXTYPE decided to start multi rounds NT burning plan starting this May. We expect 575,000,000 NT will be burnt in total.
The NT to be burnt comes from the locked Foundation Reservation and the amount to be mined.
1. NT Token Overview on April 9th
2. NT Burning Plan
1)Since May 2022, 100,000,000 NT from the locked Foundation reservation will be unlocked in 25 months, and 4,000,000 NT will be unlocked every month, of which 75% will be directly burnt. The other 25% will be distributed to the investors of NEXTYPE.
2)Since May 2022, multiple rounds of NT locking events will be launched on the NEXTYPE IGO platform on BNB Chain. According to the amount of NT locked by users in each round, the community will vote to determine the number of NT burnt until the burnt NT reaches 500,000,000.
Before each round of the NT locking event, a vote will be launched on the Snapshot to let the community decide X * locked NT Amount will be burnt.
For example, if the X voted by the community is 5 and the NT locked by the user is 20 million in the same round, the 100 million NT will be burnt.
3. New NFT Synthesis Gameplay to Accelerate the NT Burning
To encourage users to participate in the NT locking event and accelerate the NT burning, team NEXTYPE will issue a new synthetic NFT collection on BNB Chain. The highest level NFT can be exchanged for NEXTYPE Genesis NFT.
The multi-round NFT Mystery Box sale will be held to cooperate with the NT locking events, and the sales quantity, sales unit price, and the number of Genesis NFTs that can be synthesized in each round will be decided by the community.
There are three levels of synthetic NFT. The lower level can synthesize into the higher level NFT, and the third level NFT can be exchanged for Genesis NFT. The way to obtain the lower level synthetic NFT is to buy the Mystery Box or participate in the NT locking event.
NT proceeds from selling Mystery Box have three usages:
1)50% will be directly burnt
2)25% will be distributed to all addresses holding Genesis NFT
3)25% will be transferred into the Community Treasury
All proceeds from selling Mystery Box will contribute to the NEXTYPE ecosystem.
Community voting will be held regularly to determine the NT usage scheme stored in the Community Treasury.
The details of the synthetic NFT collection will be announced soon.