MediBloc is committed to providing stable and innovative services by utilizing the latest blockchain technology. In line with this, we are exploring ways to contribute more to the value of the Panacea network.
MediBloc team would like to inform you that we plan to liquidate some of the MED to be used for ecosystem development and technology development. Accordingly, we would like to announce the MED circulation change this time.
Details are as below.:
- Transaction amount per day: up to 7,000,000 MED
- Average Daily Trading Volume of MED (Past 30 days from May 2nd): USD 2,425,015
- Transaction amount percentage: 5.0% (based on $0.0173, a 30 days average closing price of MED from May 2nd)
- Transaction Period:
- May 26th, 2023 ~ December 31st, 2023 (219 days)
- Total amount: up to 700,000,000 MED
- Maximum Expected Circulating Supply increase till the end of 2023: 700,000,000 MED
- About up to 10% of total circulating supply as of April end expected to be increased
- Purpose of liquidation:
- Service and company management, maintenance, enhancement, and marketing costs
- Network development costs
- Hiring related service providers and new employees
Since the actual amount of liquidity that MediBloc team will be conducting every day during this period will affect the circulating supply, MediBloc team will report the circulation change on a monthly basis until the end of the liquidity process.
This change in circulation is a measure for MediBloc to continuously provide more innovative and stable services. Through this process, the MediBloc team will secure the necessary funds for the business in a timely manner, and based on this, will further accelerate the development of the Panacea network.
However, please note that this circulation change may be suspended at any time at the discretion of the MediBloc team. In such a case, the MediBloc team will immediately notify the exchange and official website.
As always, MediBloc is working to build a patient-centered health data platform using blockchain technology in the medical field. We look forward to your continued support and interest in the future.