50% will be distributed on pre sale and unsold token will be burned ?
if this happend and some token is unsold on pre sale - how do we know if unsold token already burning ?
thank you
if this happend and some token is unsold on pre sale - how do we know if unsold token already burning ?
thank you
Great question. Proving and transparency are important in blockchain projects, especially for token and crowdsale contracts.
Technically, unsold tokens are not going to be burned. Instead, tokens are only minted when crowdsale contract recieves some amount of ETH received. Since we are running a presale contact using "CappedCrowdsale code" (we set 5,000,000 tokens for presale), it is guaranteed that amount of minted tokens will be between 0 ~ 5,000,000. If this project raises half amount of the goal, then it's going to mint only 2,500,000 tokens. The unsold tokens are technically "burned" in the sense that they never existed at all.
Some people have hard to time understand this logic and that's why other people usually just call this method "burning". There are some team mint all tokens first and then really burn unsold tokens later, but it's doing same thing with more works and waste of gas.
Anyone can check the contract codes on here. Let me know if you are not familiar with solidity programming and want to know more detail. I can help
https://github.com/FollowExtension/contract