How much Tron coins have been destroyed?
- DDDOriginal
- 2024-04-24 13:54:08471browse
Tron Coin (TRX) has destroyed 122 billion TRX, accounting for approximately 12.2% of the initial circulating supply. The destruction method includes manual destruction by the Tron Foundation and automatic destruction of 0.001% of the transaction fee for each transaction. The destruction mechanism reduces supply and increases scarcity, which helps control inflation. The Tron Foundation will continue to destroy TRX to maintain its value.
TRON Coin Destruction Situation
The TRON Coin (TRX) destruction mechanism is designed to reduce TRX in circulation quantity, thus increasing its value. Since the introduction of the burning mechanism, a large amount of TRX has been burned.
Amount to be burned
As of January 2023, the Tron Foundation has burned more than 122 billion TRX, accounting for approximately 12.2% of the initial circulating supply.
Destruction method
TRON coins are destroyed in two main ways:
- Manual destruction: The Tron Foundation regularly destroys TRX from its holdings, with the amount varying depending on market conditions.
- Automatic destruction: Every time a transaction is made on the TRON chain, a certain proportion of TRX will be destroyed. This ratio has been adjusted several times and is currently 0.001% of the transaction fee.
Benefits of the Burn Mechanism
The TRX Burn Mechanism provides the following benefits:
- Reduce supply: By destroying TRX, the supply in circulation is reduced, thereby increasing its value.
- Increase scarcity: Over time, burning TRX will make it more scarce, thereby increasing its price.
- Control inflation: The automatic destruction mechanism helps control the inflation of TRX and prevent its devaluation.
Looking to the future
The Tron Foundation is committed to continuing to destroy TRX to maintain its value and ensure its long-term stability. The size and frequency of future burns may vary based on market conditions.
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