Re: Burning of the XLM supply

Quote from: Nnuego on November 05, 2019, 09:25:47 PM

Half of the XLM supply is gone. The team has burned about 55BXLM, do you think this is a good step for the tokenomics
https://www.coindesk.com/stellars-foundation-just-destroyed-half-the-supply-of-its-lumens-cryptocurrency
For me, does supply really have much impact on token price? Token demand is crucial regardless of the supply number
Just read about it now and i decided to share

Burning such amount of tokens from the total supply is a very good move to help investors. But heifer this can reflect on the price, there has to be a demand for XLM. If the team is not making any good moves on developing the project further, then I don't seen this having any impact on the price.
NPXS for instance burns tokens every quarter yet price is tanking daily. Basically, burns should be facilitated with good developments to create demand.