ALQO Finally Burns A Part Of Premine
This week, a long-standing issue of ALQO (ticker: XLQ, Coinmarketcap’s #638) decentralized governance has finally been resolved. The sum of 21035 XLQ has been burned 18 February 2019. A corresponding financial transaction is available to see on ALQO Block Explorer.
On Staker.tech, you can read a description of the early stages of the massive ALQO community discussion on what to do with the premined coins. The Liberio governance platform vote used a ‘weighted average’, it happened in December 2018. As one can see from historical posts on Discord, almost the same sum of 21,000 XLQ was supposed to be excluded from this cryptocurrency economy. Everything went according to the vote results: although the majority chose a variant to keep 100% of premine and transfer it into the dev fund, the votes of all people who supported scenarios with burning have been summed up. In the end, 21% of premine was to be burned.
The burn date mentioned in the old announcement that you can see here has never been specified, yet we have no reason to question the team’s credibility when it comes to this story. The natural question one may ask is what took this Proof-of-Stake cryptocurrency team so long to actually implement this decision. The probable answer is that they were interested in Bitfineon and Polaris more than in this simple operation.