What happened
The creator of the EPIK token, known as Mando, has disclosed significant token buybacks and burns that he claims have removed nearly 60% of the total supply from circulation. In a statement, Mando revealed that the total supply of EPIK is 1 billion tokens, and he has personally repurchased 356 million tokens, with an additional 154 million burned directly. Furthermore, 81 million tokens have been burned through liquidity pool mechanisms.
Why it matters for the market
Mando emphasized that his involvement was not through a simple airdrop. He stated that he spent three years and a seven-figure sum to acquire a large portion of the tokens, rather than receiving 50% of the supply through a distribution event.
These actions have led to a substantial decrease in the circulating supply, potentially increasing scarcity for the remaining tokens. The news may draw attention from traders looking for supply-driven price movements.
However, such claims rely on on-chain verification. Traders should monitor actual blockchain data to confirm the burn amounts and assess the impact on liquidity and market depth.
What traders should watch
Intraday speculative trading could see volatility if the market reacts to the perceived reduction in supply, but caution is warranted given the lack of independent confirmation.
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