SwarmMarkets announced that 99% of its $SMT community voted in favor of burning one third of all $SMT tokens. The token burn, scheduled for Wednesday, July 31 at 08:00 UTC, will result in 34% of all $SMT tokens being burned, valued at over $50 million. $SMT is deflationary. Meanwhile, the $TIME token team has also burned 30% of their entire supply, making it a total of 40% burned since the token's TGE. These significant token burns are part of broader deflationary strategies aimed at reducing token supply and potentially increasing value.
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SwarmMarkets | $SMT update Fundamental updates: SwarmMarkets just burned over 50 million US Dollars worth of supply 1/3 in total TA update (log chart): - LTF descending broadening wedge trading at resistance - HTF bullish trend - reclaim of 50EMA 2D tf, if consolidion above… https://t.co/TajBLga6KC
Gabriel Dao $SMT is deflationary 🚀🚀🔥🔥 Thank you @SwarmMarkets 's team. https://t.co/AkpHkwOY7h
King Arthur The team of $TIME just burned 30% of their entire supply! 🔥 They may be planning a new rise by reducing the token supply👀 https://t.co/Ww4AoRyBrd