First token burn completed! 🔥

2 min readJun 14, 2021

As promised in one of our latest Medium articles, we burned 50% of the tokens belonging to our team, reducing the circulating KALLYs from 100M to 95M tokens!

👇 Here is the TX sent to the burn address 👇

This decision was made with regard to the global market fear, allowing us to make KALLY scarcer while demonstrating the long-term confidence we have in our project.. 🤫

It’s also a nice opportunity to remind you that a native burn incentive will be applied to the Polkally protocol once available thus removing a small part of the total supply at each transaction! 🔥

A few community members have recently complained about our low volume on Uniswap but it’s important to remember that:

  • The correction impacted the entire market (not just KALLY) as altcoins followed Bitcoin’s (BTC) decline
  • It does not impact the trading experience, as our Uniswap liquidity remains healthy
  • We are currently recruiting new people, which explains the temporary slowdown in the development as well as the lack of news
  • We are still in touch with several decent Centralized Exchanges and negotiations are still ongoing

Special thanks (once again) to community members who continue to support Polkally despite the return of a slight downward trend, showing their continued interest in our upcoming platform — making us more excited than ever about making the world of NFTs interoperable! 🤩✨

About Polkally

Polkally is a P2P auction platform for NFTs, powered by Substrate & IPFS

Our goal is to build the most interoperable and user-friendly marketplace ever, allowing artists and everyday people to unleash the true power of virtual artworks

The project was launched in mid-February 2021 and is still under development

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World’s leading cross-chain & user-friendly NFT marketplace. Polkally is reinventing the way people interact with art.