The first token burning of ACE has been successfully completed.
Ace Entertainment, the developer and service provider of the ACE-based entertainment business and the issuer of ACE Coin, has made the decision to burn ACE Coin in three sessions in order to strengthen the ACE community and drive the realization of the brand vision, as well as increase the value of ACE Coin. The historic 1st burning of ACE Coin was permanently recorded in block 11057930 of the Ethereum network.
ACE Coin Burn Plan Overview
Burning will be completed in three sessions. The first session starts at 3pm on October 15th, and the third session will be completed by the first quarter of 2021.
First burn: 3pm on October 15th – 10% of total ACE issued, equivalent to 200 million ACE.
Second burn: TBA, 4th quarter 2020 – 300 million ACE.
Third burn: TBA, 1st quarter 2021 – Burn amount will be announced prior to the burn date.
The final total supply will be definitively announced prior to the third and final burn date.
|Session||1st Burn :||2nd Burn :||3rd Burn (final) :|
|Time||2020.10.15 @ 15:00||2020 4th Quarter||2021 1st Quarter|
|Burn Amount||200 million ACE||300 million ACE||TBD|
|Remaining Amount||1.8 billion ACE||1.5 billion ACE||1.5 billion ACE LESS 3rd burn amount|
Proof of 1st Burning of ACE Coin
● The first ACE Coin burn was completed by sending 200 million ACE, 10% of the total issuance, to an Eater Address on the Ethereum blockchain.
● The Transaction Hash can be checked from the link below.
● ACE Coin’s Token Explorer can be viewed from the link below.
Future Direction of ACE Coin Business
1) Additional burning of ACE coins
As announced, two more incinerations are expected by the first quarter of 2021. We plan to appropriately reduce the final circulation quantity of ACE Coin to help increase value and increase reliability.
2) Additional listing of ACE Coin
In addition to the current listings on Cashierest Exchange and Dcoin Exchange, additional listings on domestic and international exchanges are planned.
3) Expansion of ACE coin usage
Following the successful launch of ACE Pub, we are preparing to launch ACE GRAVIA, where ACE Coin can be used directly. Official launch of the service is planned to be within 2020.
In addition, we are preparing the ACE STORE service that allows you to purchase luxury brand goods using ACE. Almond Wallet for ACE will also be introduced which allows users to transfer ACE Coins with just a phone number.
Each service will have separate announcements with more detailed information in the future.
4) Increase the number of ACE coin wallets (Expand actual users)
On October 7, 2020, ACE Coin was swapped to an ERC-20 based coin. In the previous EOS-based wallet system, the service was divided into account and memo, so the number of wallets compared to coin holders was tallied.
ACE Coin, based on ERC-20, aims to secure 10,000 real users of ACE Coin within the year and 100,000 real users of ACE Coin by the end of next year, with additional air-drops to expand the number of wallets and expansions of the various entertainment businesses. We are preparing for promotions and more to help realize this goal.
What is ACE Coin?
HYPERCONNECTED ENTERTAINMENT COIN | ACE
ACE is a Hyperconnected Entertainment Coin, an ERC-20-based utility token that is used directly for entertainment businesses run by ACE Entertainment LLC and ACE Alliance consisting of affiliated partners or used as a token to share the profits of the business.
HYPERCONNECTED ENTERTAINMENT COIN
ACE holders contribute to decision-making and healthy growth of the ACE ecosystem by participating as a member of the ACE token economy system, and in exchange for this, they share the benefits of ecosystem growth.
Where can I use ACE Coin?
ACE can be used directly in the entertainment industry created by the ACE Alliance
ENTERTAINMENT Service Direct Use
Used as in-game goods for various game services such as mobile / PC / VR / casual genre.
E-sports stadium entry / team and player support / goods purchase.
Used for watching online video streaming and sponsoring streamers.
Used to purchase meals, drinks, and alcohol at the ACE Pub.
ACE-POS SYSTEM is used to purchase goods in linked offline stores.
Used to buy goods from the ACE Online Store.
ENTERTAINMENT Business Profit Sharing
Commit ACE to take a share of the business activities of the ACE Alliance.