The first ever XPR token burn has been completed, adding to the deflationary pressure in the Proton ecosystem.
This is a pivotal moment for Proton; with the first token burn having been successful, we have created a new pathway for regular token burns to happen in the future. This burn can be verified by viewing Proton’s public ledger at this link.
The XPR burned in this transaction came from 0.1% of the trading fees on Proton Swap; these funds were used to purchase XPR, which was subsequently sent to the @token.burn Proton wallet to be destroyed.
Proton currently has two deflationary measures:
- Fees from Proton Swap (0.1% from every transaction) are converted to XPR and burned
- System resources (including NFT resources) are purchased with XPR and burned
As a result of these deflationary measures, there is a way for XPR to permanently leave the ecosystem, reducing the circulating supply of Proton in a way that is beneficial for all holders.
This is a moment that we know our community has been eagerly anticipating. Now that a regular pipeline has been established for XPR to be burned in the future, there will be a constant flow of Proton into these token furnaces where they will be permanently destroyed.
We are constantly building on Proton to transform this ecosystem into a robust, capable, and easy to use blockchain. Interested in what else we have created at Proton? Check out our website to learn about staking, yield farming, and more. Be sure to follow us on social media to stay up to date on every announcement – there are updates in the pipeline that you won’t want to miss.
Welcome to Proton, we’re glad you’re here.
