TON Verifiers Vote to Reduce Toncoin Supply by 20%
It is reported that TON verifiers are preparing to vote on a proposal to change the economics and supply of tokens for the project. If the vote is passed, the …
It is reported that TON verifiers are preparing to vote on a proposal to change the economics and supply of tokens for the project. If the vote is passed, the supply of Toncin will be reduced by about 20% by “freezing for 48 months and then unfreezing”. These frozen Toncin will be about 1 billion, from the accounts of inactive Ton miners. The TON team said that the proposal might affect the market value of Toncoin, aiming to increase the decentralization of the network by reducing the control of whale wallets.
TON verifiers will vote to “freeze 1 billion Toncoin of inactive miners” to achieve decentralization
Interpretation of the news:
The TON project has been in the news for quite some time now, and there have been ongoing discussions about the economics and supply of Toncoin. It has now been reported that the TON verifiers are preparing to vote on a proposal that could change the economics and supply of Toncoin for the project. If passed, the supply of Toncoin will be reduced by about 20%.
The supply reduction will take place by “freezing for 48 months and then unfreezing.” This means that around 1 billion Toncoin will be frozen from the accounts of inactive Ton miners. These coins will not be available for trading and will be locked for four years. The proposal assumes that this will increase the decentralization of the network by reducing the control of whale wallets.
The TON team has warned that the proposal might affect the market value of Toncoin. However, the main aim behind the move is to increase network decentralization. The reduction in supply is expected to discourage hoarding by whale wallets and encourage more active participation in the network. The TON team believes that this proposal would help to create a more fair and decentralized blockchain ecosystem.
The proposal has received mixed reactions from the TON community. Some believe that the reduction in supply could lead to a hike in prices since there will be a lower supply of Toncoin in circulation. Others believe that the move could discourage investors and traders from joining the TON network, leading to a decline in market value.
In conclusion, the TON verifiers are preparing to vote on a proposal to reduce the Toncoin supply by about 20%. The proposal aims to increase decentralization and discourage whale wallets from hoarding. Though the TON team has warned that the proposal might affect the market value of Toncoin, they believe that this move would create a fairer and more decentralized blockchain ecosystem. The TON community remains divided about the potential effects of the proposal.
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