Solana Could Boost Its Token Burns by 14X. Would That Make It a Better Buy?
Burning more coins would tamp down supply inflation, but it might not be enough.
Overview
Solana (CRYPTO: SOL) burns, or destroys, about 648 SOL per day in transaction fees as of early August. At the same time, it issues around 60,000 SOL each day, meaning that its supply inflates over time, diluting holders.
A new proposal seeks to change that. Solana Improvement Document 553 (SIMD-0553), a proposed protocol change, would lift daily burns to a projected 7,500 to 9,000 SOL, nearly 14 times as much. So would that 14X burn increase make the coin a better buy?
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Details
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Originally published at www.fool.com.
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