FoneBlockchain
2 min readAug 3, 2023

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Hello Everyone,

We are excited to announce that a significant update to the Fone Network is now live!

Download or update your app to version 4.5:
— Google Play: https://play.google.com/store/apps/details?id=com.cloud.earning
— Apple App Store: https://apps.apple.com/us/app/fone-network/id1665915235

Introducing FONE Burning!

This is a necessary functionality that plays a major role in a better future of the Fone Network. As the project grows, there is more interest in earning, staking, and other FONE rewards, which leads to a constant increase in the FONE supply.

We know how important it is to maintain the network with as little as possible minting, and this is why we decided to implement this well-known and used functionality by many blockchain projects, but with a twist.

Instead of just burning FONE to decrease the supply to increase the value of the token, we are now offering anyone who burns FONE to receive Tether (USDT) rewards, too!

With our community’s help, it’s possible to turn the inflationary FONE supply into deflationary!

We have also adjusted the process of verifying staking blocks to become more transparent and straightforward. Users need to verify three blocks per day to receive a total of 1% staking rewards per month. With this new design, the process should be easier to understand.

Stay tuned for more exciting news and announcements soon!

The Fone Team

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FoneBlockchain

Fone is a decentralized cryptocurrency, that operates on mobile devices via app ONLY. For more information, please visit our website: https://fone.dev/