As noted in the A5T whitepaper, by mandate we are committed to buying and burning A5T.
Alpha5 uses 20% of its monthly fee revenue at the end of each month to buy and burn A5T.
Details of buy & burn this August 31, 2021
All 49,813 A5T were bought on the open market at an average rate of 0.1413 USDT
All 49,813 A5T purchased have been burned.
Through 10 monthly buy+burns dating back from November 2020, the current cumulative quantity of burned A5T as per the buy+burn program stands now at 1,275,979 A5T.
The recent volume-related commitment with the determination that daily volume, on any single in a month (May, June, July, 2021) as measured from 00:00 to 00:00 UTC will fail to exceed any of the marks applied, skyrocketed the total quantity of burned A5T assets to 16,275,979.00 A5T
Meanwhile, a total of 171,792.52 USDT has been placed into the Alpha5 Insurance Fund.
Buy+Burn periods details:
The first phase of destruction: 98,958 A5T
The second phase of destruction: 123,760 A5T
The third phase of destruction: 197,766 A5T
The fourth phase of destruction: 74,195 A5T
The fifth phase of destruction: 103,087 A5T
The sixth phase of destruction: 129,488 A5T
The seventh phase of destruction: 276,381
The eighth phase of destruction: 156,697
The ninth phase of destruction: 65,834
The tenth phase of destruction: 49,813
Cumulative destroyed quantity: 1,275,979 + (15,000,000) = 16,275,979.00 A5T
Deposit after the 1st burn: 27,494.52 USDT
Deposit after the 2nd burn: 37,128 USDT
Deposit after the 3rd burn: 59,329 USDT
Deposit after the 4th burn: 22,258.5 USDT
Deposit after the 5th burn: 25,583.1 USDT
Total TetherUS balance credited: 171,792.52 USDT
*Deposit into the Insurance Fund originates in the event where Alpha5 burns A5T from the emission curve (instead of conducting a buy & burn from the open market) and places the proceeds into the Insurance Fund.
For more detailed information regarding A5T, please refer to the A5T Transparency Page (with all the buy+burn details).