Morpheus Labs Token Burn Update

Part I of II: Token Burn

The Morpheus Labs team will be conducting a token burn periodically to facilitate the market’s needs, heighten security for developers and token holders, strengthen the value and usage of MITX tokens.

The fee which Morpheus Labs receives is the monthly subscription for individual and enterprise tiers since the launch of our BPaaS The platform had been growing and we accumulated MITX Token as part of our revenues over time. You may learn more here.

The following information is an overview for the past Token Burn that has occurred over between 15th Apr 2018 to 29th Jun 2019:

Existing Token Burn

Year 2018 Burn: 200,000,003.00 MITx

Burn Address: (0x0000000000000000000000000000000000000000)

Year 2019 Burn: 53,000,002.00 MITx

Burn Address (0x000000000000000000000000000000000000dead)

Current Total Burned: 253,000,005.00 MITx

Upcoming Token Burn Schedule

Moving forward, we’ll be scheduling an upcoming token burn to the Burn Address (0x000000000000000000000000000000000000dead).

• Current Total Burned (25.3% of Initial Token Supply)