The DEGEN Foundation has made a bold move to address inflation and dilution concerns by announcing a 32.5% token burn. This strategic decision aims to enhance long-term sustainability for holders and reduce reliance on future airdrops. Here’s what you need to know.
Why is the DEGEN Foundation Burning Tokens?
The DEGEN Foundation is taking proactive steps to combat inflation and dilution by destroying 32.5% of its total token supply held in reserves. This phased token burn program is designed to:
- Reduce inflationary pressures
- Reward long-term stakeholders
- Enhance token scarcity
How Will the Token Burn Impact the Market?
The foundation’s decision reflects a shift toward balancing the interests of current token holders and maintaining a robust token economy. Market data shows:
| Metric | Value |
|---|---|
| Current Price | $0.00 |
| Market Cap | $106.54M |
| 24h Trading Volume | $36.05M |
| 90-Day Growth | 57.40% |
What’s Next for DEGEN Token Holders?
The foundation emphasizes a cautious, deliberate strategy, with the entire 32.5% allocation not being burned immediately. This approach allows the community to assess the potential impacts and provide feedback.
FAQs
What is the purpose of the DEGEN token burn?
The token burn aims to combat inflation and dilution, enhancing long-term sustainability for holders.
How much of the token supply will be burned?
32.5% of the total token supply held in reserves will be burned.
When will the token burn take effect?
The new rules for DEGEN’s ecosystem will not take effect until June 19, 2025.
How will the token burn impact the market?
The burn could enhance market sentiment by creating scarcity, similar to projects like Shiba Inu.
