NewsEarly Redemption Complete: Redeemed Tokens Permanently Removed from Circulating Supply

Early Redemption Complete: Redeemed Tokens Permanently Removed from Circulating Supply

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Algorand Foundation

On August 1, 2019, Algorand Foundation announced an optional early redemption of Auction refund in an effort to promote the long-term success of the public blockchain network and the Algo token.

We have completed the processing of the optional early redemption and the detailed redemption list is below. In summary, of the 25 million Algos auctioned on June 19, 2019, about 19.9 million Algos (or 79.7%) had been voluntarily rendered for early redemption.

The Foundation will burn the redeemed tokens and they will be taken permanently out of circulating supply.  

Auction participants who opted to retain their Algos will be eligible for the original 90% refund policy in June 2020, where they will have a one-week window to exercise the 90% refund of the June 2019 auction purchase price. The refund reserve has been set aside in a segregated account and the attestation report from Singapore Assurance on this can be viewed here.  Details on exercising this option will be available approaching June 2020.

*The Algo numbers shown above may be rounded.

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About the Algorand Foundation

The Algorand Foundation is providing the trusted infrastructure needed to support the growth of a borderless economy. The Algorand Foundation is incorporated in the Republic of Singapore.

For more information, visit algorand.foundation.

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