On April 5, 2019, at 4:01:40 pm, the first ACE was created on block 51325933 of the EOS network, and it was first listed on Dcoin on August 29 of the same year, signaling the start of a full-fledged blockchain-based entertainment business.
More than a year has passed since the initial listing, and ACE Entertainment has been working tirelessly to realize the vision of the ACE white paper with additional listings, new partnerships, and planning and development of blockchain-based services. We have made great strides in various business fields.
Accordingly, Ace Entertainment, the developer and servicer of the Ace-based entertainment business and the issuer of Ace Coin, completed the TOKEN SWAP of all ACE issued as EOS-based tokens for ERC-20-based tokens. The decision to perform a Token Swap was made to support the business plan of ACE Entertainment and bolster the expansion of various entertainment businesses such as ACE Pub, ACE Gravia, and ACE Store in the future.
On the path to securing 100,000 ACE service users worldwide, ACE Entertainment has focused on increasing the market value of ACE, fortifying the collective ACE userbase and realizing the brand vision. For these reasons, the decision was made to burn ACE tokens.
When and how many ACE coins will be burned?
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.
|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|
Is it possible to determine the final distribution volume in advance after the third incineration?
ACE Coin is a new project and in more than a year after the full service launch, it has only been listed on two exchanges, Dcoin and Casherest.
This means that there will be additional quantities required for service expansion, such as Airdrop promotion for additional exchange listing and service introductions in the future. In particular, for large global exchanges, listing will often require substantial fees and/or promotional coins to be given.
For the above reasons, the final distribution volume has not been decided at this point, but will be confirmed after the first quarter of 2021 when the market environment becomes more clear.
How is burning progressing? Is it believable?
ACE is now an ERC-20 based token.
The incineration of ERC-20-based tokens will be carried out by sending them to an Eater Address. This will be trackable and verifiable by anybody by using the TXID.
ACE Entertainment plans to announce the transfer of the coins to the Eater Address with the TXID after each token burn round.
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.