The first redeemed GBX have been burned!Nov 27, 2018
Dear Globitex community!
We are happy to announce that we have implemented the GBX burning facility as per the GBX token specification. The first test burning transaction resulted in the total supply of GBX decrease by 2’709.87326246 GBX tokens. The transaction can be examined in detail via this link: https://etherscan.io/tx/0x3cee6e3c95c6b1c73b8e0f05ea34bddafab5c930235ba38f645b92522dfa323b
Going forward Globitex will periodically burn all GBX tokens used for Trading fee settlement on the Globitex platform starting from the first quarter of 2019.
We urge our existing and new customers to acquire GBX and enable using GBX for trading fee settlement. In the past month our clients saved 90-95% of their trading fee costs by using GBX!
GBX token is the utility token on the Globitex platform. It is an ERC-20 token with fixed initial total supply of 171’311’830 GBX. The token can be used to settle Trading fees on the Globitex platform with a 20% discount and a minimum price of 0.1EUR per GBX. All tokens used for settling Trading fees are permanently burned, thus decreasing the total supply of GBX. The token is also used to reward loyal customers as well as incentivize activity on the Globitex platform.