фото показано с : invezz.com

The TON Foundation is seeking validator approval for a proposal that would introduce a burn mechanism to the Toncoin network. According to the proposal, TON will destroy 50% of all transaction fees daily. As highlighted by The Block, TON’s overall transaction fees are much smaller compared to its staking rewards. While the proposal could see half of fees destroyed, validators will still receive the other 50% of fees as well as staking rewards.

But commenting on this aspect, TON core lead developer Kirill Emelyanenko noted that the impact on deflation will likely be visible in the longer term as the network grows. In the short term, the 50% fee burn mechanism will only see about 350-400 TON tokens removed permanently from circulation – compared to a daily issuance of 71,000 tokens.

The proposal is now awaiting a validator vote, and will need to be approved by the majority to be adopted.

According to details from CoinGecko, Toncoin currently has an estimated circulating supply of 1,473,591,410 and total supply of 5,057,362,773.

On May 31, the TON Foundation launched a liquidity mining rewards program, offering up to $720,000 in TON tokens to participants. The campaign will go live on June 5 and run to June 30 and aims at incentivizing users from other blockchain ecosystems to participate in the Toncoin ecosystem.

Julian Tan, DeFi Ecosystem Growth Lead at TON Foundation, commented on this, stating:

 “We’re seeing increasing numbers of users from other chains migrating to TON’s burgeoning DeFi ecosystem, and we expect this trend to be accelerated still further with the launch of this liquidity mining incentive campaign.”

The funds will be shared across three major TON-based platforms – AMM-based DEX protocol Megaton Finance, decentralized exchange DeDust.io and cross-chain DEX protocol STON.fi.

The post TON Foundation proposes 50% burn of validator rewards appeared first on Invezz.

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