HI. Anyone know why zill supply increase significantly everyday?

Question

Zilliqa Official Chat

Mi_Fa

HI. Anyone know why zill supply increase significantly everyday?

#blockchain #cryptocurrency #english #zilliqa

0

12.08.2023

5 ответов

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HT

Zekromo
That would be due to the large number of ZILs ente...

This initial proposal would lower the staking APR from its current rate of approximately 13% to a rate of approximately 8%, which is more in line with industry standards and would help to balance the burn and reward rates - ultimately moving towards a zero inflation environment for ZIL." last paragraph says it regarding burns ....

0

8 месяцев назад

Rahul (Will not DM or Call first)

Transaction fees are sent back to Blockhole address instead of giving it to miners. Which means those Zils are being taken out of circulation thus giving same effects as burn. It can only be used by protocol to rewards miners & as staking rewards once Max Zil supply is in circulation. It means, this is not an actual burn when token is permanently is taken out of circulation.

0

8 месяцев назад

HT

Rahul (Will not DM or Call first)
Transaction fees are sent back to Blockhole addres...

Thanks for the clarification....

0

8 месяцев назад

Rahul (Will not DM or Call first)

HT
Thanks for the clarification....

You're welcome 🙏

0

8 месяцев назад

Zekromo · Accepted Answer

That would be due to the large number of ZILs entering circulation via staking and mining rewards. While high APYs may be attractive for the average user, long term it's not great for circulating supply. Thankfully this is being addressed as the recent proposal to adjust staking rewards and promote long-term sustainability has passed. You can view the specifics here: https://blog.zilliqa.com/road-to-zilliqa-2-0-adjusting-staking-rewards-for-long-term-sustainability/ You can view the results of the proposal here: https://zilstream.com/vote/gzil/QmVyXAms4Ln9zHQZbjhqYNg29hLeQiLpbMxJGver1udooj "This adjustment aims to reduce the inflationary characteristics of ZIL and ensure the sustainability of the Zilliqa blockchain’s native token as the network moves towards a long-term goal of zero inflation. The total supply of ZIL is limited to 21 billion. At the current rate of reward distribution ZIL is inflationary, which means the network will eventually exhaust the supply of ZIL that can be distributed for mining and staking rewards. This initial proposal would lower the staking APR from its current rate of approximately 13% to a rate of approximately 8%, which is more in line with industry standards and would help to balance the burn and reward rates - ultimately moving towards a zero inflation environment for ZIL."

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HI. Anyone know why zill supply increase significantly everyday?

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