More than 67% dfi is minted, so what will happen

Question

DeFiChain - International

NKOSANA M

More than 67% dfi is minted, so what will happen

when evey coin is minted,

Will burning continue?

#blockchain #cryptocurrency #defichain #english

0

27.04.2022

4 ответов

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Zachary Chan

Ronnie Long
DFI is only semi-burned. It gets pooled at a cont...

From my understanding. Burned is burned, taken out of circulation permanently. Else it would defeat the purpose. There was only one time when coins were redistributed back into the pool and that was when the original Defichain Foundation coins were ‘destroyed’. You can check both the official burned and destroyed addresses on the website. https://defichain.com/dfi What happens in the future, will depend on the future, though DFIPs and community voting over time. We are very far away from that happening. DFI has a max supply of 1.2B coins, while BTC only has a max supply of 21M coins for example. Think about that.

0

28.04.2022

Ronnie Long

Zachary Chan
From my understanding. Burned is burned, taken out...

Maybe I'm misunderstanding something. The DFI Whitepaper lays out the following "Fees from DeFi activities on DeFiChain are burned and redistributed through new token minting over a period of time as laid out below" Now, it may be that the burn address balance will never decrease (burned is burned, as you say,) but if I'm reading it correctly it will never impact the total supply of DFI as new tokens will be minted to replace the burned ones. https://defichain.com/white-paper

0

28.04.2022

Zachary Chan

Ronnie Long
Maybe I'm misunderstanding something. The DFI Whi...

Yep. I’ve seen that section, and tbh, I don’t know how that works. Maybe someone with more technical knowledge can shed some light. A burn address is technically a null address that nobody has access to. A one-way street. So those tokens and coins are still there and will count towards the total 1.2b max supply.

0

28.04.2022

Ronnie Long · Accepted Answer

Ronnie Long

DFI is only semi-burned. It gets pooled at a controlled address and slowly released back into circulation over a period of time.

0

28.04.2022

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More than 67% dfi is minted, so what will happen

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