Many of you will be aware that ClinTex has designed the overall tokenomics for CTi from the ground up to be deflationary and to align ClinTex with token buyers and market participants.
ClinTex’s overarching goal is to drive down the cost of medicine. The use of a deflationary token supply ensures that CTI tokens will retain value, which will not only reward token buyers, but allow ClinTex to keep the costs of developing and maintaining the Clinical Trials Intelligence platform down.
Any commercial use of the platform by the pharma industry requires removing hundreds of thousands of dollar’s worth of CTI from the circulating supply, creating an appreciable deflationary pressure. No new CTI can ever minted and there will be no additional distributions of CTI.
Our original projections had the CTi supply being slowly reduced over time as the Clinical Trials Intellgience platform is rolled out to support clinical research across the pharma industry, starting this year with 2.3% as we pilot CTi-OEM in smaller academic clinical trials, and moving progressively towards almost one third of the circulating supply being removed by 2024. This supply reduction is part of the off-boarding process in the smart contract from the CTi, when a client’s access licence expires and is not renewed.
Accelerating the burn
Last week ClinTex also announced that we will go further on this commitment and manually move the burn process forward, starting with a burn of 5,000,000 CTi as soon as tomorrow — 22nd October 2021.
From then on we will continue to burn 1,000,000 CTi on the 22nd of every month for the next five months, and which point the token burn amount will be reviewed in regard to various factors including the effect the token burns have had on the token value, the community, and any reserve token pool requirements for exchange pools or liquidity on trading pairs.
We hope to continue to manually reduce the supply until full deployment & commercialization of the CTi platform, at which point the on-boarding and off-boarding smart contract automated burning process will take over.
This burning program is a further part of ClinTex’s commitment to our community and to continue to ensure the CTi tokens to retain value for the supporters of the project, reward holders, and to foster a sense of longevity in the Clinical Trials Intelligence project.
ClinTex are a solution provider to the pharmaceutical industry, and the team behind CTi — Clinical Trials Intelligence: a new type of software platform aimed at transforming the medicine development industry through the application of predictive analytics, machine learning, and the novel use of blockchain technology and smart contracts in clinical trials.
Our mission is to bring down the cost of medicine and improve the speed to market of new medicines for the people who need them, through vastly reducing development costs for the global pharmaceutical industry.
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