It appears Synero is trying to fix their unbalanced economy before it gets out of hand, with even their founders burning stake to help the network. They just destroyed half their currency supply to even things out!
This press release just went out from Synero.
Dear Synereo supporter,
Up until an hour ago, Synereo LTD and its founders governed $300,000,000 worth of AMPs.
However, it was never our intention to be the central bank for our information flow currency.
Such centralization goes against the very principles Synereo stands for.
That is why we have decided to burn about half of all AMPs held in Synereo’s wallets, including the Founder and Future Funding wallets, effectively destroying over $140 million worth of the cryptocurrency based on recent market prices.
Here’s what’s burning:
Founder Reward Wallet: 100,000,000 out of 200,000,000
Future Funding Wallet: 396,901,858 out of remaining 793,803,716 AMPs*
User Reward Wallet: 100,000,000 out of 200,000,000 AMPs
Content Creator Wallet: 75,000,000 out of 150,000,000 AMPs
Bounty Wallet: 55,000,000 out of remaining 220000000 AMPs**
Intermediary Bounty Wallet: 4207079.25 AMPs***
Total Burnt: 731,108,937 AMPs
With this move, an aggregated amount of 731,108,937 AMPs has been perpetually taken out of circulation.
All AMPs remaining under Synereo’s control will solely be used to foster the development of an ecosystem of decentralized applications, to expand the user base of the Synereo network, and to proliferate the dApps built in the ecosystem.
This project will not help anyone if Synereo maintains an entrenched, centralized position. That is why we want to distribute AMPs as soon as we can, to begin establishing a truly decentralized economy.
We appreciate your attention,
-- The Synereo Team
https://blog.synereo.com/2016/09/16/synereo-burns-half-of-all-amps-in-existence/
What a great move. This increases the AMP value, investor confidence, and is an awesome kick-off PR stunt.
I hope the Steem Teem is watchin, they might be testing a new path to the moon.