Does iost coin have a burning mechanism?
- WBOYOriginal
- 2024-07-24 12:07:01717browse
Yes, IOST coins have a burning mechanism, and its operation methods include: 1. Gas fee burning; 2. Periodic destruction; 3. Staking reward offset. These mechanisms are designed to reduce the number of coins in circulation and increase rarity and value.
Does IOST coin have a burning mechanism?
Answer: Yes, IOST coin has a burning mechanism.
Details:
IOST currency adopts a deflationary model, and the supply will decrease over time. Its burning mechanism works as follows:
Gas fee burning: Transactions on the IOST network require a gas fee, 50% of which is burned.
Regular destruction: The IOST Foundation repurchases and destroys IOST coins regularly, and the amount depends on network usage and market conditions.
Staking Reward Offset: IOST holders receive rewards for staking their tokens, but these rewards offset the circulating supply.
The IOST burning mechanism is designed to reduce the number of coins in circulation and increase rarity and value. Over time, this could lead to an increase in IOST coin prices.
IOST Key Metrics:
- Name: IOST (IOST)
- Price (July 2, 2024): 0.0065004306493736 USD
- 24-hour trading volume: 5166355.6877389 USD
- Total circulating supply: 213150 00000
- Maximum supply : Unlimited
- Circulation market value: 138556679.2914 USD
- Consensus mechanism: Block Validator Network
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