KEY TAKEAWAYS
- aelf has successfully completed the first batch of ELF ERC-20 token burns, with plans to burn an additional 295,519,800 tokens to support Mainnet migration.
- Major exchanges like Binance, OKX, and others continue to support ELF Mainnet, ensuring smooth token swaps and transactions.
- The ELF token swap remains accessible through cross-chain bridges and supporting exchanges, unaffected by the token burn process.
- aelf is committed to enhancing its Mainnet infrastructure and maintaining the health of ELF’s tokenomics as the ecosystem grows.
Since the official launch of the aelf Mainnet and the initiation of the Mainnet token swap in September 2021, aelf has been actively supporting institutions and users with the Mainnet upgrade and ELF token swap. Almost all major exchanges where ELF is listed, including Binance, Bithumb, Upbit, HTX, OKX, Gate.io, and MEXC, have supported the aelf Mainnet and have been providing smooth deposit and withdrawal services for ELF Mainnet tokens.
To safeguard ELF’s tokenomics and encourage further user migration to the aelf Mainnet ecosystem, aelf burnt the first batch of 393,226,908 ELF ERC-20 tokens from the Mainnet swap on 23 September 2023. Now, aelf plans to burn the second batch of ELF ERC-20 tokens from the Mainnet swap. A total of 295,519,800 ELF ERC-20 tokens will be burnt as part of this process by sending them to the burn address: 0x0000000000000000000000000000000000aedeAd. Once the burning is complete, updates and details about the process will be provided in a separate announcement, as announced here.
Current ELF ERC-20 token holders, as well as ELF token holders in general, will not be affected in any way. The ELF token swap will continue to be available to various ELF token holders through the cross-chain bridges, eBridge and ETransfer, within aelf’s ecosystem, or via exchanges that still support both ELF Mainnet and ELF ERC-20 tokens.
Now that the aelf Mainnet has been running stably and steadily for four years, and the aelf ecosystem is continuously growing and expanding, the network is committed to strengthening its infrastructure and maintaining the overall health of ELF’s tokenomics.
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