A 385-Million-BIP Burn, Dedicated to Launch Day

Today, on May 15, 2021 @ 9:32:56 a.m. UTC, MDF (Minter Development Foundation) burned 385 000 000 BIP, or 9.3% of current supply. The coins were sent to the 0th address: Mx0000000000000000000000000000000000000000.

This volume was forever removed from circulation and therefore will never enter the market.

Transaction

Ninety-nine percent of DAO funds that had been accumulated since launch were burned. Coins of regular users were not affected.

The event was dedicated to the day when Minter network went live, which was two years ago today (May 15, 2019). It has become the most massive coin burn in the history of Minter blockchain.

Deflationary mechanisms such as limited supply, burn of coins, and gradual decrease of rewards for generating new blocks have proved efficient in strengthening the tokenomics of many blockchains.

With demand remaining the same and supply reduced, the price always increases. Assuming that demand is on the rise, the use of deflationary tools would lead to a hyperbolic price growth.

Minter 2

The April 12 upgrade has brought Minter closer than ever to fulfilling its original vision for an efficient, blockchain-powered Internet of Money architecture.

Below are the major features that will attract players of the DeFi market:

The BIP’s Use Cases Are Many

Minter is building long-awaited blockchain architecture and services on top of it, while its base currency BIP has a wide variety of application, follows a deflationary model, and unlocks access to the global DeFi economy. These factors lay a solid foundation for Minter to be successful in the expanding, borderless market of digital assets.

Minter is turning two, happy birthday!

Thank you for being with us!

Supporting development and adoption of Minter, a digital assets marketplace powered by a fast blockchain. Other social media: minter.org/#follow