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Tron's CEO, Justin Sun took on Twitter again to announce the eight coins burned on the net. In his tweet he said that 182 million ERC20 tokens were burned, adding that the believer and believers are invited to check the burning of coins.
"TRON has completed the 8th token ERC20 token of 182,359,804,286079 TRX, we welcome the supervision of our supporters and believers".
Now, Mr. Sun and his team made sure the public saw and accepted the coins that burned like Tron's ritual or tradition. As clearly stated in the tweet, this is not the first time this burning has occurred, it all started with the launch of MainNet in June 2018. The reason was to control inflation and offer incentives to users as stated by the Tron Foundation.
"Consumption of coins encourages a fair distribution of cryptocurrency, helps control inflation and reward token holders".
In November 2018 alone, the CEO announced another burning coin of $ 800 million Tron tokens, in a live stream, Sun gave an explanation for the fire. His explanation was that the burned token was sent to a lock-up address and can no longer be in circulation. The aim is to increase the value of the particular token by creating artificial scarcity.
However, it is only the old tokens that are burned and that are in no way connected to the new ones in circulation. Tron seems to have devised a method to strengthen the value of his token.
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