Algorand Foundation: Early redemption completed, 1990 million Algo will be permanently destroyed from supply circulation

According to Algorand Official, on August 1, 2019, the Algorand Foundation announced an early redemption of the auction refund to promote the long-term success of the public blockchain network and Algo Pass. The Algorand Foundation has completed the process of optional early redemption (participants in the auction can still choose to retain 90% of the redemption in 2020). In summary, about 1990 million Algo (79.7%) was voluntarily redeemed in the 25 million Algo auctioned on June 19, 2019. The Algorand Foundation will destroy these tokens, which will be permanently removed from circulation. Participants who choose to keep their own Algo who are not involved in the early repurchase are still eligible to receive the initial 90% refund in June 2020, and they will have a week to exercise the auction purchase price in June 2019. 90% refund. Details on the exercise of this option will be announced in June 2020.