XCT Burn Proposal #4
Citadel.one Foundation proposes to burn 5mln XCT (8% from circulating supply) accrued from periodical buy backs.
Citadel.one Validator Service is expanding. Currently there are over 40 validator nodes running in different networks. Being the main Citadel.one’s revenue stream, validator nodes collect a fixed % of commission fees from staking rewards. Half of all accrued tokens are used for XCT token buy back. At the moment of writing of this proposal Citadel.one Foundation has bought back 5,000,000 XCT.
XCT burning reduces the token supply making XCT a deflationary token in accordance to its whitepaper.
XCT buyback treasury:
Previous XCT burning transactions:
July, 19 –
May, 13 –
April, 1 –
Forum discussion will be concluded on Oct. 20 and will be submitted on-chain right after.