Techub News reported that Tron founder Justin Sun said the Layer1 network plans to burn tokens equal to 3.5% of its total supply in the second quarter of this year. The move concerns TRX, the native token of the Tron network, and would permanently remove part of the supply from circulation. Tron was founded by Sun in 2017 as a decentralized blockchain platform aimed at building a global free content entertainment system. Based on the information provided, the planned burn could affect the token’s circulating supply in the market. No additional details on the burn schedule or execution mechanism were disclosed in the source item.
According to Techub News, Justin Sun, founder of the Layer1 network Tron, said the project plans to burn tokens equivalent to 3.5% of its total supply in the second quarter of this year.
Tron is a decentralized blockchain platform founded by Sun in 2017. The project was created to build a global free content entertainment system. TRX is the native token of the Tron network.
Based on the source item, the planned burn would permanently remove part of the token supply and could affect the amount of TRX circulating in the market.
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