XCT Burn Proposal #4
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Summary
Citadel.one Foundation proposes to burn 5mln XCT (8% from circulating supply) accrued from periodical buy backs.Background
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.Motivation
XCT burning reduces the token supply making XCT a deflationary token in accordance to its whitepaper.Specification
XCT buyback treasury:
https://bscscan.com/token/0xe8670901E86818745b28C8b30B17986958fCe8Cc?a=0x82034c003f7a04f0ea9158f64a42c99e809407f5
Previous XCT burning transactions:
July, 19 –
https://bscscan.com/tx/0x324b971b1a5f50a84abe14dabde13ae81f8d1d4f67720172e027e3b38fea9ddd
May, 13 –
https://bscscan.com/tx/0xbe22fe6aa26731c2d3efe9c8299f5b9acba63bd63c21d8a379d8ae383f0c079f
April, 1 –
https://bscscan.com/tx/0xabd01df5095e38137db90a8e28bd26d8838cac1665eb75728f1737516bc25fefForum discussion will be concluded on Oct. 20 and will be submitted on-chain right after.
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Pinned by I iamvlad
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Locked by I iamvlad
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Unpinned by I iamvlad