We’re thrilled to announce that today we’ve accomplished the successful incineration of 5% of the tokens held in the designated burn wallet, totaling an impressive 82,588,742.33 Leancoin. This significant reduction from our token supply corresponds to a market value of over $30,000.
This measure has resulted in the Leancoin total supply being reduced from 7,643,593,015.15 to 7,560,996,272.81 Leancoin. Our resolve to decrease the circulating supply persists, aligning with our strategy that has already cut the initial maximum supply of 10 billion Leancoin by over 24%. Tokens that are bought back are immediately transferred to the Burning Wallet. Follow all Leancoin Burned announcements.
Following the recommendations of a Hacken audit, which scored Leancoin at 9.6 out of 10, the Burning Wallet is protected by a smart contract that prevents our team from accessing it. Therefore, any tokens moved to this wallet are effectively out of our control and are earmarked for regular incineration at a rate of 5% per month. Currently, the Burning Wallet contains upwards of 1.8 billion Leancoin, signaling our commitment to methodically reduce the total supply to under 6 billion Leancoin. The address for the Burning Wallet is as follows:
Leancoin’s commitment to reducing the total token supply underscores our dedication to enhancing token value for our holders. The latest burning event is a testament to our ongoing efforts to ensure Leancoin’s stability and growth.
These strategic burns are crucial in our roadmap towards a more valuable and robust Leancoin ecosystem. We thank our community for their unwavering support and belief in our vision. Stay tuned for more updates as we continue to forge a path towards a leaner, stronger Leancoin.