Serum(SRM) Token burn 115,197 SRM ($392,824)
SerumEvery week, Serum buys 68% of the total transaction fees accumulated on its decentralized exchange in circulating SRM and immediately burns the supply.
Fees per transaction depend on the amount of SRM the user holds; the more SRM they have, the less fees they have to pay. The specific fee structure can be found here.
Token burns take a certain amount of tokens out of the circulating supply, directly affecting the supply and demand dynamics of a certain token. Because the overall number of tokens in circulation decreases, tokens become scarcer and thus theoretically boost the value of a cryptocurrency, assuming that the net valuation of the token remains the same. Token burns are known to be an effective deflationary mechanism, but users should also check the overall tokenomics of a certain project as executing token burns does not necessarily mean that the token itself is deflationary.
Details
Token: SRM
Amount (Tokens): 115197.838569
Value in USD: 392824.63
Announcement Type
Reporting Results
Other relevant information
- Tx Hash: 2iArSnM83kPN2SL9uPdqR4EckDphKZKw4MZragAuGrgB8UzyhTzzNeu8YoAaVesFHTCyyRFXJHPC953pmwyii36c
- Status: Success
- Block Height: 111580664
- Timestamp: Dec 15, 2021 at 11:36:41 KST (UTC+9)
- Transaction fee: 0.000005 SOL
