🪙Action Coin (ACTN)
Action Coin (ACTN) is the primary asset, or "coin" on a dedicated POS blockchain powered by Komodo Platform technology (the "Action Blockchain"). The Action Blockchain was launched on March 31st, 2020, effectively replacing the original blockchain, which was based on NXT technology.
When the new blockchain was launched, the maximum supply was reduced from 10 Billion ACTN to 2 Billion ACTN (due to technical advice captured and shown above) including all of the new coins minted via the staking process (over the course of 10 years). Subsequently, a 5:1 swap was advertised and executed at no cost to ACTN holders from March 31st 2020 to March 1st, 2022, with at least 2 deadline extensions.
On April 9th, 2021: Bridge token was minted on the BNB Blockchain with a maximum supply of 1 Billion ACTN.
December 9th, 2021: 1 Billion ACTN "Burned" on the Action Blockchain to compensate for bridge token minted on the BNB chain.
December 19th, 2021: Bridge token minted on the Polygon Blockchain with a maximum supply of 250 Million ACTN.
December 27th, 2021: 250 Million ACTN "Burned" on the BNB Blockchain to compensate for the bridge token minted on the Polygon Blockchain.
December 27th, 2021: 250 Million ACTN "Burned" on the BNB Blockchain to compensate for the bridge token minted on the Polygon Blockchain.
November 14th, 2022: 250 Million ACTN "Burned" on the BNB Blockchain to compensate for the bridge token minted on the Avalanche Blockchain.
November 14th, 2022: 250 Million ACTN "Burned" on the BNB Blockchain to compensate for the bridge token minted on the Ethereum Blockchain.
January 9th, 2023: 100 Million ACTN "Burned" on the Action Blockchain; effectively reducing and decentralizing the native supply at the same time.
Jan 10th, 2023: 100 Million ACTN "Burned" on the AVAX Blockchain, along with equal amounts of ACTN BEP20, ACTN ERC20, ACTN PLG20. These burns, along with the ACTN Native burn on Jan 9th, 2023, have resulted in a ~25% total supply reduction.
July 15th, 2023: 4,241,200 ACTN Native "burned" in conjunction with the annual ACTN burn plan which effectively destroys (the equivalent to) all new coins minted through the staking process.
December 20th, 2023: 150 Million ACTN "Burned" on the Avalanche Blockchain to compensate for the ACTN bridge token minted on the Arbitrum Blockchain.
December 28th, 2023: 150 Million ACTN "Burned" on the Ethereum Blockchain to compensate for the ACTN bridge token minted on the Arbitrum Blockchain.
March 16th, 2024: Bridge token minted on the Arbitrum One Blockchain with a supply of 300 Million ACTN.
Bridge tokens will increase the resilience and decentralization of ACTN over time, by distributing our supply across many public chains. They also provide each of the respective public blockchain networks with access to our native chain, and vice versa. Ongoing work is being done to facilitate simple 1:1 swaps across all networks.
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