It’s our last Community Burn!
For the last days of September, (September 1st to September 25th), we burned 84.0350 OMG.
We sent the burnt OMG to the ethereum address 0x0000000000000000000000000000000000000000. The transaction ID is 0xd0ec10a434d9882c8ac32f75a4bc875358bea028021f6a1caefdeda83797127f. Note that you can see other transactions to this address because it is very commonly used to burn tokens.
A month ago, we shared our reflections 3 months post public launch. We then announced that voting for community burns and burns of GOT themselves will no longer happen. With our focus on building an exchange in a world class, compliant way to serve our customers, we decided to remove GOT due to global regulatory concerns. This means that people with existing GOT will see their GOT removed in their accounts. If we would give something - crypto, discount, or anything - as a compensation to people who already have GOT in their account, it would mean we would give GOT a value other than using it to vote, which would create a risk from a regulatory perspective.
In the long term, the compliance play is more worthwhile than keeping GOT for short term incentives.
The path of compliance with regulators is a long one, but we believe it’s the most valuable one for the exchange and our users. Thank you.