DigiPulse to burn excess amount of DGPT tokens

Community of DigiPulse Foundation through polling decided to burn the excess amount of DGPT tokens that was frozen since November 2017 on April 30
03 April 2018   917

DigiPulse Foundation polled its community on the matter of the excess amount of DGPT tokens - almost 68% of the total supply of the tokens were left unsold. That amount was frozen for 6 months before the Foundation is able to access it. According to the poll results, 87% of the community have voted for burning the unsold tokens.

Back in November the company already burnt its share of tokens to maintain a 25% ratio from the total supply. Now, on April 30, once the excess tokens are unfrozen they are to be burned immediately (it will be sent to the address 0x0000000000000000000000000000000000000000). Community members' tokens will be kept as they are and not diluted. The service price will be tied to a fiat amount thus making regulation mechanism clearer for the community. Another reason for such a tie-up is that after drastically decreasing the token supply (from 20,483,871.02 to 5,420,726.22) the project might run the risk depleting the tokens. So the tie-up is for the adjustment of the underlying token amount.

As of the moment of publication, DigiPulse market parameters are as follows:

Average price: $2.27

Market cap: $3,190,869

Volume (24H): $21,738

Binance to Join Forces With IdentityMind

IdentityMind provides exchanges with ability to comply with KYC\AML worldwide
26 March 2019   79

Binance announced an agreement with IdentityMind, which will help it ensure compliance with regulatory requirements and improve data security.

IdentityMind provides cryptocurrency exchanges with access to the platform, thanks to which they can monitor compliance with customer identification and anti-money laundering requirements in real time. This includes connecting new customers, managing their profiles and monitoring transactions.

The partnership between Binance and IdentityMind further strengthens our compliance capabilities and our commitment to re-invest in the blockchain ecosystem and grow it. We continue to evolve and enhance security systems while adhering to regulatory mandates in the countries we operate in. The goal is to foster greater trust among financial institutions worldwide.

Samuel Lim

Chief Compliance Officer, Binance

Last year, Bloomberg wrote about the Binance user identification system as the least strict in the entire industry, and linked the “level of anonymity” provided by the exchange with the risks of money laundering and market manipulation.

In October, Binance entered into an agreement with a supplier of transaction analysis software on the blockchains Chainalysis, and in November with Refinitiv, which developed an automated solution for client verification.

Whether the ordinary users of the platform will feel the impact of the integration of IdentityMind tools on themselves, the exchange does not specify.