INVITE: Telegram TON's Social Growth Tool Proposes 50% Token Burn
CryptoNewsTerminal Staff11 Aug, 2024
INVITE: Telegram TON's Social Growth Tool Proposes 50% Token Burn
INVITE, the first social growth tool in the Telegram Open Network (TON) ecosystem, has proposed a governance vote to burn 50% of its total INVITE token issuance. The proposal, which aims to implement a deflationary model for the tokenomics, is currently at 85% approval within the community. INVITE has partnered with UXLINK, a Web3 social platform, and has acquired over 9 million on-chain users to date. The team believes that the token burn will secure the benefits of INVITE holders. The proposal is in line with INVITE's goal of achieving a total burn of 75% of its token supply by burning 5% worth of INVITE tokens per month.
