burning

Sandeep Nailwal, CEO of the Polygon Foundation, stated that Polygon is preparing to deploy a permissionless burn contract that allows anyone to permanently burn 100 million POL, which accounts for approximately 83% of the 121 million tokens held by the Polygon base fee collector. The contract is currently live on the testnet and will be deployed to the mainnet after the security committee completes the final signature.The first round of burns will permanently destroy 100 million POL, after which community members can trigger burns every quarter. Polygon's documentation indicates that the base fee is determined by the network and will be burned, with Nailwal stating that each base fee will inject POL into the collector. Based on the above data, approximately 21 million POL will remain in the collector after the initial burn.This burn represents about 1% of the initial supply of 10 billion POL, and based on a total supply of approximately 10.716 billion as shown by Blockscout, it accounts for about 0.93%. The burn will not set a hard cap on POL, which will continue to be issued, with an annual issuance rate of about 2% after June 2025. Nailwal also mentioned that POL has entered deflation starting January 2026, citing data from his "ChatGPT Analyst" that Polygon's revenue in 2026 will be $24.5 million, higher than Arbitrum's $8.41 million and Near's $5.6 million.

According to Digital Asset, Hyperliquid has launched the AQAv2 (Aligned Quote Asset v2) mechanism, which uses a portion of the revenue generated from USDC reserves on the platform to accumulate funds, ultimately transferring them to an assistance fund for repurchasing and destroying HYPE in the secondary market to reduce its circulating supply.Under this mechanism, Circle is responsible for the technical deployment of USDC, while Coinbase manages the reserves; the stablecoin issuer is expected to share about 90% of the relevant reserve revenue after deducting operational costs with the protocol. Revenue is accumulated over a 30-day cycle, with the first funds expected to be transferred on October 3. The market estimates that, based on the current USDC stock and yield, the annualized revenue could reach between $135 million and $160 million, but the actual repurchase scale still depends on the platform's USDC supply and reserve yield.

The stablecoin infrastructure company Brale has launched the ION Protocol, an interoperability system that allows participants to transfer stablecoins across blockchains by destroying tokens on one chain and minting tokens on another chain. The ION Protocol is now live on the testnet.Currently, there are over 350 types of stablecoins in the market, with a total market capitalization exceeding $300 billion, and market growth is accompanied by fragmented liquidity. Brale stated that, unlike traditional blockchain bridges that rely on pre-funded liquidity pools, ION aims to reduce capital requirements and address liquidity bottlenecks in the scaling of custom stablecoins.

Uniswap initiated a governance proposal to extend the protocol fee collection and UNI burning mechanism to the Robinhood Chain, covering versions v2, v3, and v4.According to the proposal, the protocol fees generated on the Robinhood Chain will be sent to the TokenJar contract on that chain, and Searchers can redeem the fees by bridging UNI back to the Ethereum mainnet and sending it to the burn address.

Uniswap token holders will begin voting on a significant proposal this Thursday to activate the protocol fee switch for two versions of the protocol on eight Layer 2 blockchains, including Base, Arbitrum, and OP Mainnet. Once activated, at least one-sixth of the fees collected from liquidity providers on the relevant chains will be transferred to the token pool for investors who burn an equivalent amount of UNI tokens, which is expected to more than double existing yields.The fee switch has been live on the Ethereum mainnet v2 and some v3 liquidity pools since December last year, generating a total of $3.3 million in revenue to date. Since 2026, Base has surpassed Ethereum to become the largest source of fees for Uniswap, generating $55 million in fees.Boosted by the proposal news, UNI has risen 9% in the past seven days, outperforming the declining Bitcoin and Ethereum during the same period. The final vote will conclude on March 4.

ChainCatcher message, UXLINK has posted the latest security incident update on social media, stating that a new UXLINK contract will be deployed on the Ethereum mainnet, with a total supply of 1 billion tokens, and will be exchanged with the old UXLINK contract at a 1:1 ratio.The new contract removes the minting-burning feature, and cross-chain functionality will be achieved through the partner's cross-chain service. The migration plan is divided into two parts: one for centralized exchanges (CEX) and the other for on-chain users. The snapshot taken when the hacker makes the first transfer will determine whether users are eligible for the exchange.

ChainCatcher news, the Trump family project World Liberty Financial (WLFI) clarifies the previous transaction regarding "the vault wallet has destroyed 47 million WLFI": "There are some misunderstandings about the WLFI tokens unlocked in the Safe, and WLFI has no plans to sell these tokens on the open market. The allocation of this portion of tokens is solely determined by community governance voting—how to use them is decided by the community.The status of the vault tokens is as follows:Initial quantity of 10 billion WLFI;47 million WLFI destroyed yesterday (governance decision);Current balance is 9.953 billion WLFI.All these tokens are subject to community governance rather than being decided by the team."

ChainCatcher news, the communication platform Towns Protocol announced that it has generated over $2.1 million in fees since its launch. Most of the fees will be used for strategic buybacks and the destruction of $TOWNS tokens to establish a sustainable feedback mechanism between usage and token demand. $TOWNS will serve as the foundation of the protocol, supporting its long-term development.In previous news, the communication platform Towns Protocol completed an additional $3.3 million in financing, led by Coinbase Ventures and others.

ChainCatcher news, Bloomberg previously reported that Elon Musk's artificial intelligence startup xAI is trying to raise $9.3 billion through debt and equity financing, as it is burning $1 billion a month. Musk denied this and called the report "nonsense."

ChainCatcher news, the Axelar token burn page is now live. Since the network upgrade was completed on February 21, over 90,000 AXL tokens have been burned in the past 5 days, with the current inflation rate at 4.8%.The Axelar Cobalt upgrade strengthens the AXL token economic model, ensuring that 98% of AXL transaction fees from new cross-chain interoperability connections are burned, while the remaining 2% is transferred to the community fund pool. The new blockchain connects through the Interchain Amplifier, a mechanism that is part of Axelar's Mobius Development Stack (MDS), and provides security through AXL staking in the validator reward pool. The reward pool supports new connections without the need for inflationary incentives.

ChainCatcher message, the planned network upgrade for Axelar has been successfully completed. The Axelar network, Satellite, cross-chain token services, relay services, token transfers, and general messaging have been restored online.The Gas fees for Axelar network transfers (AXL tokens) are now sent to the burn address, instead of being allocated to token holders.

ChainCatcher news, according to official news from DEZILA, on February 17, 2025, the DEZILA Meme coin will officially launch on the BNB Chain through the FOUR platform. This landmark event signifies a new development direction for Meme coins, as Meme coins supported by the ecosystem are more in line with the needs of the community and market development.DEZILA is an innovative project dedicated to solving the problems of insufficient liquidity and price volatility. With its burning ecosystem based on a three-pool linkage mechanism and its decentralized core philosophy, it has successfully attracted the attention of numerous investors. With the launch of the DEZILA Meme coin, the project will also inject new vitality into the DeFi ecosystem, marking an important breakthrough in the development of Meme coins.

ChainCatcher news, according to The Block, the ETH supply has reached 120,521,523 ETH, an increase of about 383 ETH since the merge in September 2022. Presto Research analyst Jaehyun Ha explained that this inflation is mainly due to the Dencun upgrade implemented in March 2024.The blob transaction mechanism introduced by this upgrade uses a separate fee unit, weakening the original ETH burning effect, which may affect Ethereum's deflationary properties as "ultrasound money."DeSpread Research analyst Byoungjoon Kim pointed out that the recent meme coin craze has led to a significant shift of users and liquidity towards the Solana network, along with the emergence of numerous Layer 2 solutions after the Dencun upgrade, which has also impacted the Ethereum ecosystem.

ChainCatcher message, on January 24th at 6 PM (UTC+8), the Roam "Pilot Burning Pool" will officially launch, allowing users to exchange $ROAM tokens by burning Roam Points. As a special event for the Spring Festival, Roam introduces this feature to let users experience the burning pool mechanism in advance, familiarize themselves with the operation process, and help users maximize the benefits of Roam Points more effectively. Users can contribute at least 500 Roam Points to the burning pool and choose the corresponding period for burning. The Roam burning pool adopts a dynamic conversion rate mechanism, based on the total amount of burned points and the number of tokens generated within a specific time period, so choosing the right timing for burning will help achieve higher returns. After the TGE, users can claim the $ROAM generated from burning to their personal Roam wallet. The launched burning pools include:General "Burning" Pool: Open to all Roam users, providing a simple and easy participation experience;Miner "Burning" Pool: Designed specifically for Roam router holders (such as Rainier MAX60, Baker MAX30, or MetaBlox OG), offering a higher exclusive conversion rate.Sticker "Burning" Pool: Designed specifically for Roam Sticker holders. The points users can burn are determined by the number and rarity of the Stickers.Burned Roam Points will be permanently destroyed. Users can earn points by adding WiFi nodes, checking in, inviting friends, etc. Miner users can increase points through mining, inviting check-ins, and deploying routers. Users can also earn Stickers by checking in via the Roam APP.The number of registered Roam users has surpassed 2.5 million, covering over 200 countries and regions, with more than 1.5 million self-built WiFi nodes. According to the Messari 2024 DePIN report, Roam ranks among the top five DePIN projects globally with over a million active nodes and continues to hold the number one position in the DePINscan hardware node rankings, showing strong growth momentum.

ChainCatcher message, according to Mytoken data, as of now, based on the supply data analysis of Ethereum, the supply of ETH is greater than the amount burned, with an additional 11,431 ETH added in the last 7 days.Ethereum's revenue and ETH supply burn have significantly decreased, with total revenue being 69% lower than the average of the 150 days prior to the upgrade, and the amount of ETH burned being over 80% lower than the average of the 150 days prior to the upgrade.

ChainCatcher message, DOGS announced on the official Telegram channel that the community has voted to allocate $15 million worth of DOGS tokens for charitable donations, future project development, and token burn, which accounts for 3.2% of the total token supply. The allocation plan is as follows:Charitable donations: 606.7 million DOGS, approximately $5.217 million;Future development: 702.2 million DOGS, approximately $6.038 million;To be burned: 478.3 million DOGS, approximately $4.113 million.The DOGS tokens allocated for charity and future project development will have a one-year vesting period to allow the project to focus on prudent donations and investment project development.

ChainCatcher news, the proof-of-stake blockchain Tezos announced on social media that it has launched tzBTC 2.0.It is reported that tzBTC 2.0 is an improved iteration of tzBTC, and a key innovation of tzBTC 2.0 is the use of the Acurast execution environment to automate the minting and burning process. The Tezos Foundation will subsidize a fixed annual fee, allowing Gatekeepers to mint and burn for free, addressing the drawback of the original tzBTC version where minting and burning were limited to a few large organizations.

ChainCatcher news, according to official information, NuLink (NLK) will be launched on KuCoin BurningDrop at 18:00 (UTC+8) on May 13, 2024. The KCS pool will be open during the subscription period. In addition, for accelerated burning, users who have subscribed can choose to burn KCS to receive more NLK airdrops.The total allocation of NLK is 1,000,000, and 15% of the NLK rewards will be distributed before the NLK trading starts on the KuCoin spot market. The remaining 85% will be locked for three months after the first allocation and will be distributed in batches of 28.3% monthly.It is reported that NuLink is a Web3-based decentralized wallet proxy and file encryption tool that uses a Proxy Re-Encryption (PRE) scheme to ensure data security and privacy. At the same time, NuLink Snaps is the ultimate decentralized data manager designed for Web3 DApps, which can seamlessly integrate with MetaMask.