The 4th IRIS Token Burn is Completed

Published in

IRISnet Blog

2 min readMar 31, 2020

On March 31st, 2020, the IRIS Foundation completed the 4th IRIS token burn under a one-year token burning plan with 14,230,476 IRIS burned. The current total supply is 2 billion IRIS.

This is also the last burn in a one-year token burning plan announced in 2019. Until now, 62,754,558 IRIS tokens have been burned. Every burn maintains an original balance of 2 billion IRIS to keep the actual inflation rate as 0.

The token burning plan is to support the healthy and sustainable development of IRISnet ecosystem. We are very happy to see more and more community members get involved in community governance discussion and especially we noticed many discussions in IRISnet forum are around how token should be burned recently. The IRIS Foundation would like to work with our community to improve the current burning plan and focus on improving all validators and delegators with an opportunity to get greater benefits.

The purpose of upgrading the burning plan is to encourage community members to actively participate in the staking. Our initial thought is for the increased delegation from community, the Foundation will unbond the same portion of the delegation amount, also burn an equivalent portion of tokens. So we can maintain a healthy staking ratio while the validators and delegators can enjoy increased rewards.

The improved specific plan will be released through a new announcement, so stay tuned!

The following is the detailed information of the 4th burn: