Streamflow Foundation said it burned 699.99 million STREAM tokens in a single on-chain transaction on Sept. 23, reducing the token’s total supply from about 1 billion to 300 million. The move represents a 70% cut in supply.
According to the foundation, the tokens that were burned were under its control. It also said STREAM has no active mint authority, meaning the destroyed tokens cannot be reissued through fresh minting.
Streamflow, which operates on Solana, provides infrastructure for token vesting, staking, locking, airdrops, and distribution management. The foundation said the burn was a change to the token’s economic model and would not affect product operations, user vesting plans, staking services, or airdrop services, all of which will continue to run as usual.
On-chain data showed STREAM supply at roughly 300 million after the transaction. Bitcoinist said the sharp supply reduction could alter expectations around future token dilution, while adding that the project’s long-term value still depends on platform usage, ecosystem revenue, and token holders’ willingness to participate in governance.
According to Techub News, the Streamflow Foundation burned 699.99 million STREAM tokens in a single on-chain transaction on Sept. 23, cutting total STREAM supply from about 1 billion to 300 million. That amounts to a 70% reduction.
The foundation said the burned tokens were part of the supply under its control. It also stated that STREAM has no active mint authority, so the tokens cannot be minted again.
The foundation says products and services are unchanged
Streamflow is a Solana-based project that provides infrastructure for token vesting, staking, locking, airdrops, and distribution management. The foundation said the burn was a change to the tokenomics model and would not affect product operations, user vesting plans, staking services, or airdrop services, which will continue as normal.
On-chain data shows supply at about 300 million after the transaction
On-chain data showed STREAM supply at roughly 300 million after the transaction.
Bitcoinist said the sharp reduction in supply could change market expectations for future token dilution, though the project’s long-term value still depends on platform usage, ecosystem revenue, and token holders’ willingness to participate in governance.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
