$ITHEUM Token Multi-Chain Max Supply Rebalancing Transactions Audit

$ITHEUM Token Max Supply is Fixed to 1 Billion: How do we balance this across multiple blockchains?

The $ITHEUM token has a fixed supply of 1 Billion (1,000,000,000) and was initially minted on the MutiversX blockchain. This is the original token: https://explorer.multiversx.com/tokens/ITHEUM-df6f26

As the $ITHEUM token is now a multi-chain token, which means it can exist on multiple blockchains, we need to ensure that the fixed max supply across ALL the blockchains for the tokens never exceeds 1 Billion. This balancing can be done manually or automatically based on how the token bridge technology works.

At this stage, we only have a MultiversX <> Solana bridge that uses an "LP Design" and performs a manual token burning and minting to balance the fixed max supply to be 1 Billion across Multiversx and Solana. All mint and burn activity is transparently done and the audit log is maintained below for anyone in the community to monitor and audit as needed. Traspenrecy all the way!

Who can burn? and where do the burn tokens come from?

• The only wallet that has the rights to burn tokens on MultiversX is this dedicated wallet: https://explorer.multiversx.com/accounts/erd17exmcvh0wm2xx9ngas84vd3jyc4zgf6scg75tmncff6k3qnxux0qzw0mrf

• When we burn tokens on MutliversX because we minted tokens on another chain (e.g. Solana), these tokens are burned from the "Ecosystem" bucket, as bridging is related to ecosystem growth.

Multi-Chain Current Supply Balances

Last Update: 2 Nov 2024

Blockchain	Current Supply	Verify on Token Page	Notes
MultiversX	960,000,000	https://explorer.multiversx.com/tokens/ITHEUM-df6f26	On MultiversX, the supply should show exactly as burning tokens are not allowed.
Solana	40,000,000	https://explorer.solana.com/address/iTHSaXjdqFtcnLK4EFEs7mqYQbJb6B7GostqWbBQwaV	The current supply might show less than the target amount as on Solana anyone can burn tokens, but it should NEVER be more than the shown amount.
TOTAL	1,000,000,000

Mint and Burn Transactions - Audit

The following are the mint and burn transactions to balance the token supply to 1 Billion across Solana and MultiversX.

Solana Mint Transactions:

Date	Action	Solana Transactions	Total Minted on Solana	Notes
Jul 16, 2024	Minted initial supply (batch 1) of $ITHEUM on Solana	https://explorer.solana.com/tx/2bRUZ5HpnongTzgvHua6iXXzptifozWH6GFA1uTisWjr7rd4ER4vPXBb7BH62NNPaccyHqVhvyYpSy67dmTvtUpC https://explorer.solana.com/tx/eTzCkC8Xx2tS89BNGGuXwQyJn46RrVU8Enhu58xAg6ARszkevqY3or569PfoZZn21aRzQUW1QH2DW6zBTSCMpoD	20,000,000	The target supply was 20,000,000 But we did it in two batches to test the process. This is why 2 transactions are seen.
Nov 01, 2024	Minted supply (batch 2) of $ITHEUM on Solana	https://explorer.solana.com/tx/2AYgEDYLpqLyUj2nkBorQFtyhhGmfJbKsYBh5F3UBmy6NzxmvRyUiJDay6828JhHNxPuGaLaAm3y16cewTpCHB3T	20,000,000	Mint these tokens to move more ITHEUM from MultiversX to Solana. Primarily to facilitate the lauch of NFMe ID Liveliness Staking on Solana and seed the staking rewards for people who mint NFMe IDs.

MultiversX Burn Transactions:

Date	Action	MultiversX Transactions	Total Burned on MultiversX	Notes
Jul 25, 2024	Burn $ITHEUM on MultiversX (batch 1)	https://explorer.multiversx.com/transactions/b31b7fe8bd23df8e1c382b4b943db655099328832f1dc24beb58382de96fd76a	20,000,000	The burn happened 9 days after the mint on Solana as we had to test and create a secure process for future burns to happen transparently. In the future, for mint/burn cycles, we will aim to do it on the same day.
Nov 01, 2024	Burn $ITHEUM on MultiversX (batch 2)	https://explorer.multiversx.com/transactions/b99c32354170220fe68cf5ada779865eb9dcac950ace13c72fe435fb5ddd1129	20,000,000	As batch 2 of same amount was minted on Solana, we burned on the same amount of MVX on the same day.