Holograph, a full-chain NFT protocol, has successfully completed its inaugural HLG token burn, a crucial step towards restoring its intended supply of 10 billion tokens. This move follows a thorough discussion with the community and is part of a broader plan to rectify the damage caused by a recent vulnerability exploit. The exploit, carried out by a former contractor, resulted in the unauthorized minting of 1 billion additional HLG tokens, temporarily locking down the protocol.

The token burn saw the destruction of 53,249,975 HLG tokens, leaving a remaining 946,750,025 tokens to be burned to achieve the original supply goal. Currently, around 800 million HLG tokens are in circulation. The community's involvement in this process highlights the collaborative effort to rectify the situation and ensure the protocol's integrity. The decision to restore the original supply aims to stabilize the token's value and prevent further inflationary pressures.

The vulnerability exploit, which led to the minting of extra tokens, has been addressed, and the malicious actor's accounts have been frozen on multiple exchanges. At least 200 million of the additional tokens have been frozen, preventing their circulation in the market. This swift action demonstrates Holograph's commitment to maintaining the trust and security of its community.

Holograph's proactive approach to resolving this issue showcases its dedication to upholding the integrity of its protocol. The successful token burn and the ongoing efforts to freeze the exploited tokens serve as a testament to the community's resilience and cooperation. As Holograph moves forward, its focus on security and transparency is likely to foster a stronger and more reliable ecosystem for its users.

The completion of the first HLG token burn marks a significant milestone in Holograph's journey towards restoring its original supply. With the community's continued support and the protocol's commitment to security, Holograph is poised to emerge stronger and more robust, providing a reliable platform for its users to create, interact, and thrive in the NFT ecosystem.