We burn SOX
On July 19th, 64 AD, the Great Fire of Rome broke out, allegedly started under the instruction of Emperor Nero. Thought to have been motivated by his desire to clear an area of ground for the construction of a new palace, his blunderous decision cost countless lives and left approximately two thirds of the imperial capital in ruin. Yet despite this terrible devastation, the Romans, being a sandal-wearing people, found that not a single pair of socks had been burned.
We, the Ethersocks Team, seek to do things properly.
The historic treasures we shall be consigning to the flames are indeed precious, but we do it for the sake of our community and not at their expense.
Where’s Nero burned Rome, we shall burn SOX!
What exactly are we talking about?
When we began this project our primary aim in token distribution was to achieve a fair launch. Of the 3200 SOX tokens generated, the vast majority have now arrived in the hands of the community or in the wallets of those who are contributing to making Ethereum 2.0 a success. Nevertheless, as with almost all cryptocurrencies, in order to incentivize and reward our work in building the project, we retained a stake. In our case, this stake includes 320 SOX tokens, which currently equates to a value of over $175,000!.
But what, for us, is more indicative of the project’s success is the amazing community that has developed around it. As such, we would like to give our thanks to our community by conducting a Team token burn that will significantly reduce the circulating supply!
Not wishing to quietly burn tokens, however, we have decided to combine the burn of 96 SOX tokens with a campaign that will release our Etherhino NFTs into the wild while simultaneously delivering the physical version of our tokenized apparel to a first batch of Rhino-Redeemers!
Releasing the Rhinos
This week, we will be burning 96 whole SOX tokens!
To coincide with this burning, we shall match the first 27 SOX token redemptions, with the Rhino-Redeemer receiving the NFT and a pair of physical Ethersocks in our stead.
That’s right! The first 27 community redemptions will get double the socks and NFTs in return!
We will also be listing the remaining 69 Etherhino NFTs from the burn on the OpenSea auction site so that we can kick start a market and give the wider-world a little taste of our collectable assets for a low, low starting price.
The proceeds from these sales will then be used to buyback SOX tokens from the open market for further burns.
The Great Fire of Rome resulted in three straight days of intense heat and untold destruction. This destruction was followed by a winter in which thousands were left homeless, out in the cold.
In contrast, the burning of SOX will leave our community with many years of warm, stylishly-covered feet and the warm heart that follows the receipt of one of our adorable Etherhino NFTs.
Pulling ya’ socks up,
The Ethersocks Team