Holograph's first HLG burn has been completed, destroying a total of approximately 53.24 million tokens

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Cointime2024/06/20 07:34

By:Cointime

On June 20th, Holograph, the full-chain NFT protocol, announced that it has completed its first HLG token burn, destroying a total of 53,249,975 tokens with 946,750,025 HLG tokens remaining to be burned. Additionally, there are currently around 800 million HLG tokens in circulation. After extensive discussions with the community, a plan has been initiated to restore the total supply of HLG tokens to 10 billion.

Previously, Holograph released a vulnerability update after a former contractor exploited a loophole to mint an additional 1 billion HLG tokens on Mantle, causing the protocol to be temporarily locked. The malicious actor has been frozen out of multiple exchange accounts, with at least 200 million of the extra tokens being frozen.

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