A burn announcement was made by Altcoin Degen (Degen), listed on Coinbase.
According to an official statement from Account X, the Degen Foundation is investigating a 32.5% gradual destruction of total degen token supply to address dilution concerns and inflation fears, aiming for long-term sustainability rather than doing large-scale airdrops in the future.
Saying they are waiting for feedback from the community, the foundation said they are waiting for airdrop or burn choices.
“We are interested in your thoughts on potential ingestion burns.
The foundation currently holds 32.5% of its supply. This could be used for future airdrops, but it would dilute existing holders’ holdings. This is not a good idea for long term holders.
One idea: Gradual burning.
It rewards long-term holders and burns them consistently every month until they reach a sustainable accumulation that lasts for years. We don’t burn everything, but this could change the economy of tokens and eliminate big aviation drops in the future.
What should you do: should you burn it or distribute it more to society? ”
Following this post, Degen prices have risen significantly.
*This is not investment advice.
