4,000,000,000 STEM Tokens Burned.

in #stemgeeks2 years ago

When the STEM token was created to reserve the name, the max supply was set to 5,000,000,000 which is a reasonable starting point while deciding on the inflation, distribution, and initial supply.

When I deciding on those numbers, I wanted to create fewer tokens yearly than most have. Most tribes are producing 1-2M+ tokens a year. STEM only produces a little over 840,000 tokens via inflation in the first year with a 3% reduction yearly. When factoring in the initial supply and 50 years of inflation there will only be around 52 million tokens available.

The 5 billion max supply was a safety net which I was happy to remove a large chunk of.

4,000,000,000 STEM tokens were burned and removed from the supply.

The current circulating supply is still around 3.5M tokens which mostly consists of the @nostem4u anti-abuse account (1M) and the sell wall (2M). (As stated previously, the @nostem4u stake will never hit the market or be sold OTC).


Ah, I have to stop reading your posts because I keep reading @nosfer4tu instead of @nostem4u. Pretty close, but not close at all. I hope there is a Nosferatu account out there. Here. I don't know what it would do, but I suppose it would not grow garlic.

What else, what else. Think I need more coffee.

Yeah, great idea you have there! Here. I mean with the stem and geeks and nosferatu.

Great move.

I have staked 280 coins and look forward to curating in your community.

This post has encouraged me to buy and stake over 600 of your coins.

Well, that was a quick way to get rid of 80% of the max supply. lol

Burn, burn...

When I read this, an old melody keeps ringing in my head:

Burn, BURN !

Now thats how to start a party.

Four billion tokens is a good burn. I guess the theoretical value just went up 5X, but let's see what happens. In any case, I'm much more comfortable with the long term prospects for STEM now.

RIP fake internet money.

Thank you for burning, it made curating worth more and I'm happy to upvote more of #stemgeeks posts.

Wondering why the sell wall displayed on steem engine is 2 bil tokens instead of 1.

The sell wall is 2M

Congratulations @stemgeeks! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :

You got your First payout
You received more than 100 as payout for your posts. Your next target is to reach a total payout of 250

You can view your badges on your Steem Board and compare to others on the Steem Ranking
If you no longer want to receive notifications, reply to this comment with the word STOP

To support your work, I also upvoted your post!

Vote for @Steemitboard as a witness to get one more award and increased upvotes!