On May 22, news reported that COCO has completed its first transaction fee burn operation, with a total of 146,991,765 COCO burned. The burn has been completed on-chain, and the relevant transaction hash is:

0xae0b58bacd3b54615849c2d380c3756e6cba328873502af2b7f6cbbb0ffbef19, which has also been announced on the official Twitter.

This burn comes from 20% of the 1% transaction fee extracted from each transaction, marking the official launch of COCO's deflationary mechanism. According to the mechanism design, as transaction volume increases in the future, the scale of the burn will continue to expand, further strengthening COCO's long-term value support and deflationary expectations.