Crypto asset trading platform Websea announces the one-time burn of 57 million WBS platform tokens.
According to TechFlow, on December 23, according to official news, the crypto asset trading platform Websea announced that it has officially completed a one-time on-chain burn of 57,000,000 WBS today.
This burn comes from all tokens released in the current on-chain lock-up contract, corresponding to 19% of the initial total locked amount, and has now been permanently destroyed. After the burn, the total supply of WBS has decreased from 300 millions to 167 millions. In the future, according to the established deflationary mechanism, continuous buybacks and burns will be carried out, ultimately converging the total supply to 100 millions.
It is reported that, with the deep expansion of the Websea ecosystem and the implementation of the Yongying Fund deflationary model, the platform has chosen a more deterministic approach to enhance the long-term value of WBS. This burn will change the supply structure and scarcity of the WBS platform token.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
NVIDIA will invest $3 billion in SB ENERGY
Deutsche Bank: After the three major central banks hiked rates simultaneously, the market may once again underestimate the terminal interest rate
Deutsche Bank points out that as central banks in the US, Europe, and Japan are tightening policy simultaneously, the market may still be underpricing the eventual terminal rates. With oil prices remaining high, inflation may spill over into core inflation and wages. Moreover, financial conditions have not tightened in tandem, which could weaken the effect of rate hikes. Citing the experience of 2022, Deutsche Bank notes that the market then expected a total of around 200 basis points of Fed rate hikes in the first year, but the final figure exceeded 400 basis points, illustrating that the market often underestimates the terminal rate.
Crypto prices
More
