Jimizz Prepares to Burn $JMZ

Exactly one month after listing on PancakeSwap, on October 29, 2022, the Jimizz team will execute the first massive burn of unsold tokens

As promised in the project's whitepaper, 50% of the unsold JMZ at the end of the ICO will be burned. This total amounts to 4 billion tokens. The total number of tokens burned will therefore be 2 billion.

How the Burn Will Work

The burn will be organized as follows:

- From October 29th, 400 million $JMZ will be sent to a burn address. That is 20% of all the tokens that will be burned.

- On November 29th, 400 million additional $JMZ will be burned, bringing the total number of $JMZ burned to 800 million, i.e. 40% of the total burn.

- On December 29th, 400 million tokens will be burned again. 60% of the burn will be completed.

- The date of the last burn of 800 million $JMZ, which will close the burn of unsold tokens, will be communicated shortly.

Following this burn, the team reserves the possibility to continue to burn on a smaller scale a part of the unsold tokens.

This burn is part of a process to reduce the total supply of $JMZ to match the project's objectives. The sum of 8 billion tokens was relevant insofar as the project was reaching its fundraising extra-cap. Jimizz now needs to lighten its supply in order to sustain its token economy.

The lightening of the max-supply is a positive measure for the investors and for the project insofar as the Jimizz is a consumer token; if its use becomes more democratic and its supply is reduced, its price will naturally be pushed up.

The burn will take place on October 29th at 8pm CEST.

About $JMZ Listing

The foundation of the JMZ is to be a utility token. Thus, it is possible to buy content in Jimizz, on all J&M sites, and with a 50% discount to encourage consumers to buy and use the token.

The Jimizz team doesn't intend to stop there, however. Partnerships have already been established with Swame and Petit Abricot so that the JMZ is also available as a payment method on their sites. Other partnerships are being finalized, with companies established in the Web3 and others from more traditional backgrounds. The democratization of the token is a key factor of its success and Jimizz intends to work hand in hand with other companies in the sector to achieve it.

Where to find Jimizz:

Website, Twitter, Telegram, Discord