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How often are Telos (TLOS) coins burned?
Telos implements a structured coin burn strategy, progressively reducing the TLOS supply to enhance scarcity and drive up the token's value.
Dec 22, 2024 at 09:21 pm
Key Points:
- Telos (TLOS) employs a progressive coin burning mechanism, known as Progressive coin burn.
- The frequency of TLOS coin burns is predetermined and varies throughout the project's lifespan.
- Coin burning aims to reduce the total supply of TLOS, increase its scarcity, and drive up its price.
Progressive Coin Burn Mechanism:
- Phase 1: 1,000,000 TLOS were burned at the project's genesis in December 2018.
- Phase 2: Commenced in March 2019, 250,000 TLOS are burned every three months.
- Phase 3: Scheduled to begin in March 2022, 125,000 TLOS will be burned every quarter.
- Phase 4: From March 2025 onward, 62,500 TLOS will be burned every six months.
- Final Phase: Upon reaching 100 million TLOS in circulation (estimated in 2030-2035), the progressive coin burn will conclude.
Impact of Coin Burn:
- Reduces the total TLOS supply, creating scarcity and enhancing the token's perceived value.
- Increases the relative proportion of TLOS staked, which supports the network's security and decentralization.
- Drives up the TLOS price by reducing the available supply and increasing demand.
Additional Details:
- The TLOS burned during each phase is permanently removed from circulation.
- Users cannot predict or influence the frequency or quantity of coin burns.
- The progressive coin burn mechanism is designed to gradually reduce TLOS emissions over time.
FAQs:
Q: Why does Telos burn coins?
A: To reduce the total supply, increase scarcity, and drive up the price.
Q: How many TLOS have been burned to date?
A: Approximately 2,250,000 TLOS as of March 2023.
Q: What is the total TLOS supply?
A: Initially 101 million TLOS, with a circulating supply of approximately 98 million TLOS as of March 2023.
Q: When will the final coin burn phase conclude?
A: Estimated to be between 2030 and 2035, upon reaching 100 million TLOS in circulation.
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