Dear IMO holders!
As you probably know, the first burn of IMO tokens has been completed, based on the rental income from our first property purchase. Located in the Valais region of Switzerland, this first acquisition offers a prime location. Completely renovated in 2021, it comprises a kitchen, a living/dining room, two bedrooms, a dressing room, a small utility room for a washing machine and a storeroom. There is also a cellar in the basement. Its balcony offers breathtaking views of the Swiss Alps.
1000$ per month was burnt on 18 May 2023, and the same amount will now be burnt ad-vitam aeternam on a monthly basis.
Photos of this charming flat are attached. In the meantime, of course, we are looking forward to acquiring more real estate, increasing our rental income and burning even more tokens in order to gradually contribute to its depletion:
But good news doesn’t come alone. We have decided to withdraw 800K IMO from circulation, i.e. around 4% of the total supply (approximately 160,000$ at the current price of $0.20 per token) over a period of 8 weeks (i.e. 100K IMO burnt per week for 8 weeks).
The 800K of IMO comes from the liquidity withdrawal made in BNB for the purchase of the first property, which resulted in an equivalent withdrawal of 800K of IMO tokens. This initiative will significantly boost the scarcity of IMO tokens over the long term.
The history of the IMO project is underway, and the future looks bright. Real estate in the age of blockchain is a narrative in vogue, with no end in sight.