Aiming a 50% burn rate

The max supply is 1'000'000'000. We needed to keep a high number because otherwise it wouldn't be possible to mint tokens with mills if the max supply was reached.

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1 vote

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ladymisa last year

Seeing something with value get burnt up sounds scary but I do understand the concept behind burns in crypto. So let it burn. :)

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3 votes

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achim03 last year

It sounds scarry it's true but if we don't burn tokens, they will simply be worth less... By burning we can optimize it according to the income we generate.

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blitzzzz last year

Has the burn rate achieve what you've set out to do so far?

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3 votes

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achim03 last year

When we started the project, we wanted to achieve a close to 100% burn rate but we realised that this was only possible if the tokens are circulating. There are a lot of accounts that simply hodl the token and with a burn rate of 50%, we get a quite stable circulating supply.

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jfang003 last year

I think it is a good goal, and the burns do help to maintain the LEN price.

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2 votes

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achim03 last year

In a way we could have said that we don't burn and we only min 50% of the tokens but this gives less flexibility. We can adapt the burn rate according to the income than we generate and it takes into account the tokens that are 'blocked' on inactive accounts.