️ Will Kalima burn tokens and how will it affect the project.
27 Feb 2023, 08:27
⚡️ Will Kalima burn tokens and how will it affect the project?
▪️The Kalima burn mechanism refers to purchasing and eliminating KLX tokens from circulation, thereby reducing the total number of KLX in use.
▫️A burn provision of 1% will be enforced on each transaction fee within the Kalima blockchain to achieve halving effects and maintain inflation at a stable level.
▪️What our system actually does is that it accumulates 1% of each transaction fee until it is deemed necessary to initiate a burn.
▫️For instance, if a transaction of 1Kb involves a gas fee of 0.00025$, it would initiate a burn of 0.000025€ worth of KLX tokens.
☝️It is important to note that the burn mechanism does not impact the maximum circulating supply of KLX tokens. Our maximum circulating supply will remain fixed at 480,000,000,000 KLX.
While the burn mechanism gradually reduces the number of KLX tokens in circulation, the token's total supply remains unchanged.
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