2nd Quarterly RES Burning | Expectations For Resfinex Token RES.
For our 2nd quarterly RES Burn on 31-March-2020 (Jan-Mar 2020), Resfinex will burn 3,000,000 RES, equivalent to $135,000 USDT worth of tokens. We will discuss RES’s value amid the fast pace of growth of the Cryptocurrency industry and Resfinex ecosystem.
Resfinex will conduct the second quarterly burn of 3,000,000 RES. This is equivalent $135,000 worth of RES out of circulation, permanently. We will take this event to share some thoughts.
3,000,000 RES will be burned. This burn, which represents activity across spot exchange, staking, trading fees, new projects listed, as well as the partners that use RES, from Jan to March 2020, permanently took away 3 millions RES out of circulation. The circulation supply reduced from 109,250,000 RES to 106,250,000 RES
2nd Quarterly RES Token Burn
Our active users growing at a rate of 85% MoM since December 2019. Resfinex’s profits may be smaller compared to big crypto exchanges. However, There are several reasons to believe in Resfinex’s future:
- Firstly, Resfinex strives to provide the lowest fees in the trading. We want to keep the cost of trading to a bare minimum for our community. We believe this is the best long-term growth and for the finance industry in general.
- Secondly, we actively reinvest in the technology of the exchange, improving the UI, UX and security standards, regardless of market conditions. We believe strengthen our technology and security standards will bring about significant benefits in the long term. As a result, our profit margins are smaller at the moment.
- Finally, what makes RES’s tokenomics interesting is that Resfinex has implemented a quarterly burning mechanism into RES tokens. It is literally designed to be adopted and utilized which increases its price.
At Resfinex, we hold true to our whitepaper that we will continue to burn RES in our possession until there are only 500,000,000 RES left.
Our direction for Resfinex has always been clear. We still very much strive to be the best exchange for digital assets token and work hard for the RES’s holders and our investors.
We appreciate your support as always.