In order to remain fully transparent, we at AIOZ Network will be showing all transactions for ERC-20, BEP-20 mint & burn in the section seen below. The first burn and mint will come when we release our $AIOZ Bridge.
Users can also check the burning and minting addresses via the respective block explorers:
Binance Smart Chain: https://bscscan.com/token/0x33d08d8c7a168333a85285a68c0042b39fc3741d
How will $AIOZ Bridge work?
The ‘yet-to-be-live’ AIOZ Bridge will maintain the inventory of both $AIOZ ERC-20 & $AIOZ BEP-20 for swapping purposes. The AIOZ network tokenomics will provide a current liquidity provision at 3% of the Total supply. Given below are the details of 30,000,000 $AIOZ for Exchange Liquidity.
- Used: Added 6,666,667 ERC-20 for Uniswap Liquidity
2 April 2021 Friday 03:03:49 PM +UTC https://etherscan.io/tx/0x1964317275793a9b5d597eb64f5bf7a1c7c9f3184a7dea5fdd6482623e0573b4
- Used: Added 6,666,667 BEP-20 for PancakeSwap Liquidity
2 April 2021 Friday 03:03:53 PM +UTC
- Available Exchange Liquidity Provision: 16,666,667 $AIOZ ERC-20
As of today 26 April 2021, the available Exchange Liquidity Provision is 16,666,667 which is all in $AIOZ ERC-20. Since the ecosystem has only these many available as of now, it is important to burn ERC-20 and proceed by minting BEP-20. In order for bridging liquidity, AIOZ has to prepare both $AIOZ ERC-20 & $AIOZ BEP-20.
This will not pertain to anything related to the addition or reduction in any $AIOZ total token supply but moving from ERC-20 to BEP-20 and vice versa.
AIOZ Network has always endeavored to work towards ensuring that users are able to buy, store, send and trade the $AIOZ token on both ETH and BSC chains. A safe place for the users to shift from one blockchain to another has to be provided more so when the gas fees on Ethereum despite its upgrades are still high making trades and transactions expensive.
What the $AIOZ bridge will do is to maintain the inventory of both $AIOZ ERC-20 and $AIOZ BEP-20 for swapping purposes.
Before the $AIOZ bridge goes live it is important to understand how the mechanics of burning ERC-20 and minting for BEP-20 works. It is not about adding or reducing supply but rather adapting to the change in dynamics within the ecosystem itself where the supply will remain the same but will merely move from ERC-20 to BEP-20 and vice versa
$AIOZ total supply — 1,000,000,000
The current supply of $AIOZ ERC-20–966,666,666
The current supply of $AIOZ BEP-20–33,333,334
For example, after the burn of 100,000 $AIOZ ERC-20 the supply of $AIOZ ERC-20 reduces by 100,000 and the mint of $AIOZ 100,000 BEP-20 for the same amount will happen changing the equation which will look like:
New Supply ($AIOZ ERC-20): 966,566,666
New Supply ($AIOZ BEP-20): 33,433,334
This will also happen the other way round depending upon the market forces.
This shows that there is no new addition of total $AIOZ token supply = 1,000,000,000 $AIOZ
Keep following https://bridge.aioz.network for more updates!
AIOZ will even provide a public page for all the users to help them see all transactions for burning and minting $AIOZ ERC-20 & BEP-20. The same could be checked at https://aioz.network/assets-proof
When the Bridge will be live and swap successfully undertaken, users will easily be able to move $AIOZ tokens around on another blockchain. A sample of the yet to be live interface Proof of Assets is as given below:
About AIOZ Network
AIOZ Network is a Layer-1 Blockchain-based Content Delivery Network that is about to bring a revolution to the entertainment industry.
AIOZ Network utilizes Blockchain to better content distribution through decentralisation. A distributed Content Delivery Network (dCDN) uses Nodes for storing, streaming, and transferring data instead of traditional data centers operating on a P2P model.
AIOZ Network uses a faster, cheaper, and more robust platform for content streaming making it affordable, fast, and of better quality.
By using this revolutionary technology, AIOZ Network can efficiently change the way the world streams content. Thus taking the world one step closer to the future.
For recent updates and progress about AIOZ Network, hop in on our community at: