Stader Labs' proposal to destroy 20% of SD tokens was approved
On May 31st, Stader Labs, a multi-chain liquidity collateral platform, announced that its proposal to destroy 20% of the total supply of SD tokens has been approved. This marks the completion of the first phase of the SD token's economic transformation. The proposal suggests that due to concerns over the low float and high FDV of the SD token, 20% of the total token supply, or 30 million SD tokens, will be destroyed, reducing the total supply from 150 million to 120 million.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
El Salvador Announces New Bitcoin Step Despite IMF Warning
Bitcoin country El Salvador has taken a new step for BTC despite the stern warning and new agreement from the IMF.
Tether (USDT) Shares Its Profit Generated in 2024
Tether (USDT), the world's largest stablecoin issuer, shared the amount of profit it made in 2024.
New Proposal from Bitcoin Hater Peter Schiff: “Let’s Create a New Altcoin Reserves Instead of BTC Reserves”
Peter Schiff, known for his intense criticism of cryptocurrencies, opposed the strategic Bitcoin reserve proposal.
Institutions to Shift Toward Altcoins by 2025, Says Bitwise CIO
Trending news
MoreCrypto prices
More
