Stellar Development Foundation “burned” more than half of XLM

QB Exchange
Nov 6 · 1 min read

The non-profit organization Stellar Development Foundation (SDF), which supports the stellar blockchain, “burned” 55 billion XLM, which is more than half of the total number of coins.

If previously there were only 105 billion XLM, of which there were 20 billion in circulation, now the total number of coins is 50 billion.

So it was decided to get rid of most of the XLM. SDF plans to observe the development of XLM for 10 years, and will either issue new coins or “burn” some more cryptocurrency.

The announcement was made at the Stellar Meridian conference. Participants warmly received this news, which is not surprising, since after the” burning “ of coins, the cryptocurrency rate usually increases. According to CoinMarketCap, the XLM rate rose by 20.8% per day and now stands at $0.083.

At the moment, the SDF controls 30 billion XLM. At the same time, 12 billion coins are in the development Fund to support the organization. 2 billion is for “ecosystem support” and 10 billion for investment. Another 6 billion XLM will be used to attract users.

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