Quote from: viabet.io on December 05, 2017, 11:45:19 PM

At VIABET, we have a long-term strategy to raise the value of XVIA tokens. In order to ensure for each and every one of you that the XVIA you purchased quickly but steadily gains value and maintains that value. We have decided to reduce the overall XVIA token supply from 70 million (70,000,000) to 7 million (7,000,000), meaning a 90% decrease.

Historically when a company burns (destroys) or locks a number of tokens it causes the price to increase. This is due to the law of supply and demand. Since there are fewer tokens available for trade the tokens that are available for trade become more valuable. XVIA tokens are needed to use the VIABET platform. XVIA is a cryptocurrency based on the Ethereum technology that allows creating a fair, autonomous cloud-based betting environment for all users.

We will be having two (if necessary) token burn events, each at major milestones which will allow to raise the value of XVIA at key points:

BURN 1: The first burn will happen on December 10th (6:00 PM UTC) (70 million to 7 million), this will give a buildup as we move into our Public ICO stage.

BURN 2 (if necessary): The second burn will happen in the event that not all 4.4 million tokens are sold and distributed during the Public ICO. It will take place after listing on our first official trading exchange, EtherDelta (Planned for as early as December 12th if all 4.4 million tokens are distributed during that time, otherwise the listing date is scheduled for January 7th, 2018)

With each burn, we aim to achieve a high level of stability and steady overall price increase.