In March 2024, the eCredits coin went through a substantial modification that affected the whole ecosystem’s economic model, the ECS token burn. The token burn resulted in considerable reduction in ECS supply with the following burn highlights:

• Total Current Supply is 63.000.000.000 ECS

• 1.88 billion ECS were burned from the circulating supply.

• 42 billion of ACT Swap funds were burned.

• 8.6 billion from SCE Funds were burned.

Benefits of Token Burning

Without the burn mechanism to remove tokens from circulation, new tokens rewarded for mining, staking, or participating in the network could lead to inflation, thereby decreasing the token’s value. Token burning acts as a counterbalance to this issuance, helping to control inflation and maintain the token’s purchasing power. Burning can also help regulate the network’s economy, ensuring the token’s utility beyond just a medium of exchange or store of value.

It’s important to understand that token burn is a strategic tool to fortify a Blockchain ecosystem’s efficiency. By reducing the overall token supply, burning can help mitigate inflation and promote a healthier, more stable economic environment.

Get a 360 view of the eSync Network’s mechanics by exploring the eSync Network Whitepaper.