TON Foundation Proposes Burning 50% of Transaction Fees

TON Foundation Proposes Burning 50% of Transaction Fees

The TON Foundation proposed introducing a burn mechanism that would destroy 50% of all transaction fees on the TON network.

If the burn mechanism is implemented, when a user makes a transaction on the network, a portion of those tokens would be burned, with the remaining going to the validator as usual. The validator will also continue to receive staking rewards for helping to run the network.

This is a similar strategy to Ethereum’s EIP-1559 upgrade, which burn the base fee and bringing deflationary pressure to the network.

 

TokenInsight is dedicated to covering the most important and cutting-edge trends in the world of crypto. If you have information to share with us, please feel free to contact our email news@tokeninsight.com. Your trust will be well respected.

Source

Layer 1

In This Article

Related News
Aptos to Unlock $103 Million $APT Tokens to Team and Investors in November Aptos to Unlock $103 Million $APT Tokens to Team and Investors in November
Telegram Integrates TON's Crypto Wallet TON Space Telegram Integrates TON's Crypto Wallet TON Space
Layer1 blockchain aelf Announces Launch of aelf Ventures with $50 Million Ecosystem Fund Layer1 blockchain aelf Announces Launch of aelf Ventures with $50 Million Ecosystem Fund
$SEI Price Breaks $0.15, Up 25.83% Over the Last 24 Hours $SEI Price Breaks $0.15, Up 25.83% Over the Last 24 Hours
Side Protocol Integrates with Injective to Unlock Mesh Liquidity Networks Side Protocol Integrates with Injective to Unlock Mesh Liquidity Networks
Latest News More More
Oracle Project Supra Closes Over $24 Million in Funding with Coinbase Ventures Involved
1xBit Adds Two Exclusive Deposit Methods – Arbitrum and Algorand
Argentina to Roll Out Digital Identity for Citizens Built on zkSync Era
18 Minutes Ago Bitcoin Face High Selling Pressure From Miners
5 Hours Ago ConsenSys' Layer 2 network Linea to Issue Soul-Bound Token Voyage XP
delate
Use TokenInsight App All Crypto Insights Are In Your Hands
Open