SLT Burn Schedule Aims to Manage Inflation
Hey everyone. We are happy to inform you that the First Burn Event is successfully done! That means that 27.5 billion tokens from the burn wallet have just been burned, making this the first SLT burn ever and with first burn event, we’ve started SLT Burn Schedule to manage inflation.
Read on for more details.
You can check the proof and specifics regarding the burn directly on Solana Explorer by following this link.
Before the event started, 66.6% of the initial SLT supply was held in the burn wallet. With 27.5 billion already gone, the rest will also be burned periodically so there will be anti-inflation exists to easily manage inflation and look forward to every month.
As promised, the remaining burn funds have been locked for the next 23 months. 27.5 billion tokens will be released on the 15st day of every upcoming month. Those tokens will then be burned at a random day the very same month until the burn wallet is depleted.
Check the status and details of the locked funds in real-time by following this link:
https://vesting.bonfida.com/#/unlock
Contract Seed: 2ZT6PmRUqdoHvrwzpZo8U9JKYhnbGGikJRNbJ5vnWCLa
We hope you will be joining us on this adventure as we burn more tokens over the following months.
We wish you all an excellent Solana Winter and a fantastic rest of the year.
More details can be found on: solit.so
Solit Community
