We are pleased to announce that today we have burned 5% of the tokens in the burning wallet, totaling 106,734,010.01 Leancoin. This equates to a market value of over $46,000 USD. You can verify this transaction on Solscan to see Leancoin Burned Today:
As a result, the total supply of Leancoin has been reduced from 8,126,500,000 Leancoin to 8,019,765,989 Leancoin. It is our mission to continue decreasing the total supply, which has already been reduced by almost 20% from the max supply of 10 billion Leancoin. All tokens bought back are sent to the Burning Wallet.
In accordance with a Hacken audit, in which Leancoin received a 9.6/10 score, the Burning Wallet is protected by a smart contract. Consequently, our team does not have access to it. All tokens that are sent there are no longer under the team’s control and are burned at a rate of 5% per month. Currently, the Burning Wallet contains over 2 billion Leancoin, indicating that the total supply will certainly not exceed 6 billion Leancoin. Here is the address of the Burning Wallet:
In June 2023, the equivalent of Leancoin tokens that had not been exchanged from Lean Management Token to Leancoin and were under the team’s control was sent to the Burning Wallet. We informed you about this in this announcement:
Leancoin aims to develop the UBB model, in which we support activities related to Leancoin utility. We aim to conduct regular buybacks and burn the purchased tokens by sending them to the Burning Wallet (out of the team’s control). In this way, we strive to reduce the total supply by 50% from the max supply of 10 billion Leancoin.
