Cryptocurrency Q&A
How much total FTM burned?
How much total FTM burned?
CryptoVanguard
Thu Jun 13 2024
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7 answers
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Could you please clarify for me how much FTM has been burned in total? I'm curious about the specific amount as it relates to the overall supply and demand dynamics of the cryptocurrency. Could you provide me with a detailed breakdown or any relevant data points that might help me understand this figure better? I'm particularly interested in how this burned FTM affects the price and liquidity of the asset in the market. Thank you for your assistance in answering this question.
7 answers
DigitalDynastyGuard
Sat Jun 15 2024
BTCC, a cryptocurrency exchange headquartered in the UK, offers a comprehensive suite of services to its users. These services span across multiple areas of the crypto industry, catering to the diverse needs of investors and traders.
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AzureWave
Sat Jun 15 2024
FTM, the native token of the Fantom network, undergoes a burning process that reallocates its supply. Seventy percent of the fees paid to the network are designated for validators, who play a crucial role in maintaining the network's security and stability.
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NebulaChaser
Sat Jun 15 2024
Fifteen percent of the fees are allocated to support the GasM program. This program aims to provide incentives for users to participate in the network's transactions, ensuring smooth and efficient operation.
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CryptoWizardry
Sat Jun 15 2024
Another ten percent of the fees are designated to bolster the Ecosystem Vault. This vault serves as a funding pool for projects and initiatives that contribute to the growth and development of the Fantom ecosystem.
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Raffaele
Sat Jun 15 2024
The remaining five percent of the fees paid to the network are permanently burned. This mechanism helps to control the supply of FTM, potentially leading to increased scarcity and, ultimately, higher prices.
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