Advertise
CoinTrust
BTC
ETH
BCH
SOL
DOGE
SHIB
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
No Result
View All Result

Home » Stellar Removes XLM Liquidity by Burning 55bln Tokens Worth $4.50bln

Stellar Removes XLM Liquidity by Burning 55bln Tokens Worth $4.50bln

Kelly Cromley by Kelly Cromley
Nov 5, 2019
in Market News, News
Reading Time: 2 mins read
0

The Stellar Development Foundation (SDF) has revealed a new program for the development of its ecosystem that involves burning 55 billion Stellar Lumens (XLM) tokens.

Token burning plan revolves around the strategy of turning the network more efficient in the months ahead.

The SDF burnt more than 55 billion XLM tokens, leaving more than 85 billion tokens for its operations.

XLM, at the time of writing this article, trades at ~$0.0808, indicating that the value of the burnt tokens is roughly $4.50 billion.

The crypto has appreciated nearly 17.6% in the past 24 hours. Including the XLM tokens that are being used for various purposes, the total quantity of XLM in existence (total liquidity) is 50 billion.

The SDF has pointed out that the burn was intended to improve the efficiency of the system in the months ahead. The organization has issued a statement justifying their decision to burn tokens:

“SDF can be leaner and do the work it was created to do using fewer lumens. Over the years we’ve also seen that giveaways and airdrops have diminishing effects, especially in the outsized amounts our original plan was designed to support. So a smaller public-facing program would have just as much impact.”

The development firm further stated that it will invest the remaining 12 billion tokens worth ~$1.02 billion into “an aggressive program of direct development and advocacy for Stellar.”

SDF stated that it anticipates doubling the number of employees to roughly 60 by the end of 2019. While two billion XLM tokens, worth ~$170 million, will be set aside for the support of Stellar ecosystem, 1 billion XLM tokens, worth ~$85 million, will be used for Stellar’s infrastructure grant program.

Additional tokens will be used to invest in unique projects, development of new tools, Stellar Enterprise Fund and other apps. In September 2019, Stellar stated that it aims to terminate inflation characteristic of its native token in the forthcoming upgrade.

The Stellar Development Foundation opined that programmers are interested in removing the characteristic as it no longer helps partakers in the network.

Previous Post

China Rolls Out Blockchain Powered Identification For Cities

Next Post

Æternity Blockchain Unveils Hard Fork Software For Network Upgrade

Related Posts

shopify-adopts-stablecoin-payments

Shopify Expands into Stablecoin Payments with Coinbase and Stripe

by Kelly Cromley
Jun 14, 2025
0

Shopify has taken a significant step toward embracing digital currencies by enabling its merchants to accept stablecoin payments through a...

XRP Price if Ripple Captures 14% of SWIFT Market Share in 5 Years

XRP Price if Ripple Captures 14% of SWIFT Market Share in 5 Years

by Mostafijur Rahman
Jun 13, 2025
0

Ripple’s vision of replacing or supplementing parts of the legacy SWIFT system is not new—but what if it actually happened...

sft-luffa-partner-for-secure-web3-messaging

SFT and Luffa Unite to Secure Web3 Messaging

by Kelly Cromley
Jun 13, 2025
0

SFT Protocol, a notable player in the decentralized finance landscape known for enabling liquidity in staked assets, has announced a...

quackai-soonchain-decentralized-gaming-partnership

Quack AI and SoonChain Join Forces to Revolutionize Decision-Making in Decentralized Gaming

by Kelly Cromley
Jun 13, 2025
0

Quack AI, an established platform specializing in artificial intelligence-driven governance solutions, has announced a strategic partnership with SoonChain, a progressive...

Ethereum’s Polygon Inks Two Deals to Bring DeFi, Decentralized Insurance & NFT to Enterprises

Polygon Bridges POL Token to Solana with Wormhole Integration

by Kelly Cromley
Jun 13, 2025
0

Polygon, a leading Layer 2 scaling solution for Ethereum, has announced plans to extend the functionality of its native POL...

Cardano Launches Smart Contracts Testnet “KEVM”

Cardano Strengthens Blockchain with Anti-Grinding Upgrade

by Kelly Cromley
Jun 13, 2025
0

Cardano, one of the foremost public decentralized blockchain protocols, has unveiled a new anti-grinding mechanism aimed at improving network security...

Next Post
Æternity Blockchain Unveils Hard Fork Software For Network Upgrade

Æternity Blockchain Unveils Hard Fork Software For Network Upgrade

  • blackrock invests in colle web3

    COLLE: Pioneering AI Web3 Platform Receives Investment Boost from BlackRock

    by Kelly Cromley
    May 13, 2024
  • Router Protocol and OpenWorldSwap Partnership to Revolutionize DEX Market

    by Kelly Cromley
    Aug 6, 2024
  • Central Bank of Saudi Arabia Teams Up with Ripple to Transform Cross-Border Settlements

    by Kelly Cromley
    Aug 17, 2023
  • GameStop’s Digital Transformation: Embracing Blockchain and NFTs

    by Kelly Cromley
    Feb 2, 2025
  • Blockchain Based Sports Platform SportsMint Unveiled

    by Kelly Cromley
    Apr 30, 2024

Recent News

shopify-adopts-stablecoin-payments
Market News

Shopify Expands into Stablecoin Payments with Coinbase and Stripe

by Kelly Cromley
Jun 14, 2025
sft-luffa-partner-for-secure-web3-messaging
Market News

SFT and Luffa Unite to Secure Web3 Messaging

by Kelly Cromley
Jun 13, 2025
quackai-soonchain-decentralized-gaming-partnership
Market News

Quack AI and SoonChain Join Forces to Revolutionize Decision-Making in Decentralized Gaming

by Kelly Cromley
Jun 13, 2025
Ethereum’s Polygon Inks Two Deals to Bring DeFi, Decentralized Insurance & NFT to Enterprises
Market News

Polygon Bridges POL Token to Solana with Wormhole Integration

by Kelly Cromley
Jun 13, 2025
Cardano Launches Smart Contracts Testnet “KEVM”
Cardano News

Cardano Strengthens Blockchain with Anti-Grinding Upgrade

by Kelly Cromley
Jun 13, 2025

Categories

  • Altcoin News
  • Analysis News
  • Binance Coin News
  • Bitcoin News
  • Blockchain
  • Blog
  • Cardano News
  • Ethereum News
  • ICO News
  • Legislation News
  • Market Forecasts
  • Market News
  • News
  • Ripple
  • Ripple News
  • Solana News
  • Tether News
  • XRP

Cointrust

  • About Us
  • Contact Us
  • Correction Request
  • Our Team

Legal

  • Disclaimer
  • Terms & Conditions
  • Privacy Policy
  • Cookie Policy

Popular

  • ICO Listings
  • Knowledge Base
  • All about Mining
  • Cryptocurrency Exchanges
  • How and Where to buy Cryptocurrency

Sitemap

  • News section
  • Sitemap
  • XML Sitemap

© 2024 CoinTrust.com.

CoinTrustCoinTrust

* DISCLAIMER: All information provided in CoinTrust is merely for informational purposes, we are not an investment advisor and not affiliated with any companies or ICO/Cryptocurrency Projects. To use this website you must accept our cookie policy, Disclaimer and Privacy Policies.

No Result
View All Result
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos

© 2024 CoinTrust.com.

We use cookies to ensure that we give you the best experience on our website.
If you continue to use this site you agree to allow us to use cookies, in accordance with our Cookie Policy.
I Agree