For those who’ve been around long enough, you’ve probably have heard of Phoenix RISE, our token economics optimization program. The first iteration of inflation reduction went into effect on January 10th, 2023, to a base inflation rate of 9% per annum from 10%. Now we are glad to announce that our inflation reduction will be accelerating, with the 2nd iteration of inflation reduction going into effect on Tuesday April 2, 12pm Hong Kong time, to an effective rate of 8.2%. With each iteration there will be a 10% reduction in the rate - there is expected to be 2 more iterations of Phoenix RISE inflation reduction in 2024 after the upcoming one.