STREAM continues to exceed people’s expectations, especially with its newest update. CEO Michael Ein Chaybeh announced that STREAM has already sold out in the presale and has also completed burning a portion of its coins on 5th Jan 2021. A full transcript of Stream Coin burning as per STREAM CEO
To know the full story, here is the entire transcript of CEO Michael Ein Chaybeh’s video announcement. CEO Michael Ein Chaybeh:
Hello and welcome to STREAM.
I would just like to take a minute to thank every single investor, every community member, and all the team members behind STREAM, to make this happen, to make this achievement happen.
We started with a dream that turned into a vision, and from a vision to a mission and onwards till today.
I would like to take a second just to take you back to ‘93 when scientists (who) were in a building, building a platform called MBone (Multicast Backbone) and they used that platform that they developed with a hardware and a software, to broadcast live a gig by a band called Sever Tire Damage. (And) They broadcasted that gig online — on the internet — to Australia and other parts of the world.
With just one feature, all they could do was applaud by clicking a button that created a virtual sound of an audience applauding. ‘Till today, we have a like button, we have a comment area — comment section, we have subscriptions and notifications, and there is yet a lot more to add.
How about, adding selling a video or how about choosing the adverts that you wish to have on the video that you created? There is a lot more. How about being able to get automatic subtitles done by artificial intelligence that is backed by blockchain? It’ll just tear down borders. It’ll just get more and more audiences to every single streamer.
A streamer gets motivated by receiving an income — the rewards, the endorsements that they get, and yet these get cut down in half on most platforms. So they (streamers) will be able to get more by using our live streaming platform by the user purchasing STRM coins and endorsing them and rewarding their streamer a 100% without any cuts.
Now, this is possible because of blockchain and many other features — just to name a few, which I have already done. (More features) which is NFT, which is subtitling and reducing latency — that is very important if you are subtitling. You don’t want to get subtitles late.
I would like to also thank the investors again, for their belief in us. (For) believing in the team behind this. We have actually sold out the presale faster than we expected. We are sold out!
We have one more month without a presale because there is nothing to sell from the presale. So, we would love to burn 1.64 billion (STRM) coins from the ICO allotted amount and 1.64 billion from the ecosystem and marketing. Now, once we do that, we’re going to be reducing the total supply by 37.27% which means that, from having 8.8 billion coins, we will now have — from the 5th of January — we will have 5.52 billion coins.
Now, don’t forget any unsold ICO coins will get burned, too, and that equal amount will then again get burned from the ecosystem and marketing amount. So, we could possibly get to about 40% from the total 8.8 billion. So, having said that, we would like you to know that we are sold out one month in advance, ahead of schedule, that means that we’re going to use that one month to focus more on the ICO — on the global marketing of the ICO and the research and development of the platform.
I would like to thank everybody once again and wish you all a happy and prosperous New Year of 2022!” To find out more about STREAM, please visit their website
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