StaFi Proposes Treasury Burn for 100% of Incoming FIS Tokens
CryptoNewsTerminal Staff22 Aug, 2024
StaFi Proposes Treasury Burn for 100% of Incoming FIS Tokens
StaFi, a leading cryptocurrency liquidity staking platform, has proposed a token burn mechanism to reduce the inflation rate of its native token, FIS. The proposal aims to burn 100% of FIS tokens that enter the Treasury, effectively reducing the inflation rate from 10% to 6%. This move is part of StaFi's broader goal of transitioning FIS into a deflationary token. The proposal is currently under discussion within the StaFi community, and a vote on the matter is expected soon. If approved, the burn mechanism would be implemented in the coming months. This proposed FIS token burn is a significant step towards stabilizing the value of FIS and making it more attractive to investors. By reducing the inflation rate, StaFi is demonstrating its commitment to the long-term value and sustainability of the FIS ecosystem.
