$BTTC BitTorrent Chain (BTTC) is carrying out a large-scale token burn plan, aimed at drastically reducing the total supply of its cryptocurrency.
Below is a summary of the key points:
* Massive burn: More than 575 billion BTTC tokens have already been removed, representing over 58% of the total supply.
* Future burns: There are an additional 3 trillion tokens earmarked for future rounds of burning.
* Annual event: July 2 has been established as the "Annual Burn Day," on which a smart contract will automatically execute a token burn.
* "Black Hole Wallet": This new wallet has been introduced to facilitate more frequent burns.
* Expected impact: The purpose of these actions is to reduce the supply of BTTC to create scarcity, which could lead to a potential price increase. Furthermore, greater transparency and long-term sustainability for the project are sought.