Our first round of monthly Community Contributions on CoinPoker was a great success, and July was no different. A total of 6,998,896.57 CHP was collected last month, which will be put towards upcoming community and CHP boosting efforts. Here’s everything you need to know about Community Contributions in July.
If you missed our first Community Contributions report you can check it out here. For more information on how Community Contributions are calculated and the benefits for our players and investors have a look at this guide.
CHP Tokens Burned in July 2019: 5,249,172.42 CHP
Just to recap, tokens collected via Community Contributions each month are divided and used for token burning and promotional activities. A total of 75% of tokens collected will be burned and removed from the circulating supply, thereby contributing positively to the long-term value of CHP.
We are excited to announce that July’s contributions beat June’s, and our team was able to burn a total of 5,249,172.42 CHP compared to just over 3 million last month. To keep things transparent and verifiable, below are the links to the black hole address and Etherscan transaction.
Funding Upcoming Promotional Activities
While the majority of Community Contributions are allocated for token burning, the remaining 25% is reserved for promotional activities on the platform and beyond.
The 1,749,724.15 CHP tokens collected in July will be returned to the community in the form of MTT overlays and Leaderboard prizes in August. A cash game focused promotion is also in the works, something our team aims to deliver alongside a generous referral program.
As we continue to trial Community Contributions, our team is carefully monitoring the figures and terms behind it in a way that best serves our plans for growth. Feedback from our community is also essential to the long-term success of Community Contributions. Share your thoughts and questions with our team on Telegram or drop a comment below.
Good luck at the tables!