The Stellar Development Foundation (SDF) has today announced a new mandate for the development of its network. Darin says it has burned over 55 billion Stellar Lumens (XLM).
A medium-sized post from November 4, the Foundation has drastically reduced the number of existing tokens. The goal of this step is to become more efficient in the future.
Of the over 85 billion tokens provided for operation, for advertising and for affiliate programs, the Foundation burned over 55 billion.
At a current exchange rate of $ 0.085 per token, the total value of the token burned is almost $ 4.7 billion. US Dollar. Coin reacted positively to this step and leapt to a 25 percent rise to the editorial conclusion.
If you include the remaining tokens in the above mentioned programs with the XLM included in circulation, it gives exactly 50 billion XLM in the world according to the blog entry.
XLM burning and distribution of the remaining tokens. Source: Stellar Development Foundation
Foundation focuses on ecosystem development
The Foundation further states that the purpose of the combustion is to make the system more efficient in the future. It says:
"The SDF is now rationalized and can perform its intended work with less lumen. In the course of the years we have also seen that Werbegeschenke and Airdrops have a lesser impact, especially in large scale, whoever we are originally planned. A smaller, and the public-directed program, therefore, had just as much effect. "
The development organization claims that they have 12 billion of the remaining tokens ($ 1.02 billion) in" an aggressive and direct development – and promote Stellar's investment program. The Foundation also stated, they expected, to double the number of their 60-year-old Mitarbeiter.
Two billion XLM (US $ 170 million) was flowing into that ecosystem support. One billion XLM (US $ 85 million) is to be set up for Stellar's infrastructure promotion program.
In addition, some tokens were used for investments in use scenarios, currency support, new products, the Stellar Enterprise Fund and other purposes. in the frame, remove any planned upgrades. The Stellar Development Foundation softly said that this tool was not much more useful to developers for network owners.