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DOMAINS TOKEN-G

Ronald Maguire

27 May 2022 240 Read Crypto , Altcoins

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1.3 Billion UST Tokens Will Be Burned

The Terra community has approved a bid to burn 1.3 billion UST tokens, accounting for 11% of the current 11.2 billion UST supply. The entire token burning process will take place in two stages. Terra, the firm behind two tokens LUNA and UST, which collapsed in a matter of days, continues to make significant progress.

UST Burn Offer

The Terra governance system that created the community voted in favor of burning all UST tokens held in the project's community pool. In the past, when demand for LUNA increased, UST was burned to mint LUNA. Eliminating a significant portion of the excess supply of UST at once will relieve the pressure on the UST.

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