Burn-Drop will be facilitated by smart contract and a new Burn-Drop event will be automatically triggered on a daily basis. Burn-Drop will have a total of ten phases with earlier phases having a higher Burn-Drop rate. In Phase 1 (i.e., the first 1,000 devices), a total of 100,000 IOTX will be Burn-Dropped for every new device. In subsequent phases, the Burn-Drop rate will be halved while the number of devices-per-phase will be doubled (i.e., Phase 2 = 2,000 devices @ 50,000 IOTX per device).