Solido Token Burning

Solido plans to deploy token burning to curb the token inflation rate.

Solido looks to bring $SIDO crypto tokens for utility. It’s subject to coin burning. It’s unanimously decided that after the year’s completion of crypto token launching, that is July 2022, and at least 2% of the token supply will be burnt. It means, the min of 2% and max of X% of the total tokens will be removed from the circulation every quarter (starting from July 2022).

It will ensure the token utility of Solido tokens remains stable and slows down the inflation rate. The proof of the burning mechanism will secure and validate the blockchain system for healthy token burning.