Statement Regarding Burn

Addressed to the Phore community by the Phore staff.


As many of you are aware, we have been putting a great deal of thought into the allocation of post-burn funds. A vote was held earlier in the month of October when Phore's budget was low. The community decided on a 50% burn & 50% dev fund. Now that our budget has risen, we feel it is no longer necessary to keep 50% of the unswapped coins. Instead, Phore developer Phroshi has decided on a 100% burn of unswapped coins. To pay for future developments, 10% of block rewards will be allocated to the budget. At the end of the month, developers and development will be paid for from the fund amassed through this method.

For future decisions, a solid feature called Governance will be put into place through which all future decisions will be made by the community. Specifically, individuals who have Master Nodes will be able to have input on all major decision

Visit our block explorer https://chainz.cryptoid.info/phr/#!rich

The rich list's #1 address is the number of unswapped coins.
These coins will be burned on the 18th of November. The date when swap from KTK to PHR officially ends.

Another executive decision was made concerning listing date. To completely eliminate any FUD or mistrust and maximize transparency, Phore will list on its first major exchange AFTER swap is over.