KGeN, a blockchain-based authentication network platform, said Thursday it burned 22 million tokens — roughly 10 percent of its circulating supply — and introduced a new "KGeN 2.0" model that links AI project sales to its token operating framework.
The platform has approximately 61.9 million verified users across 60 countries, KGeN said. The company also operates a business supplying training data to AI and robotics research institutions, and reported annualized sales of $83.5 million as of March.
The 22 million tokens burned consisted of unclaimed airdrop allocations and unsold node allotments. The company said tokens held by its management team and financial reserves were not included in the burn.
Under the newly introduced KGeN 2.0 model, a portion of revenue generated through partnerships with AI research institutions will be tied to the token operating framework. The company said it plans to use those funds to run an ongoing token burn program.
To ensure operational transparency, KGeN said it will publish transaction records and related sales data on its blockchain network following third-party audits.
Manish Agarwal, co-founder of KGeN, said the company has "established a framework that connects the AI business with the platform's operating structure," adding that it plans to "continue refining the model to strengthen the link between business performance and platform operations."
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