The Big Burn of Stellar Lumens Greeted by CommunityNovember 8, 2019
At the Stellar Meridian in Mexico City, the CEO of the Stellar Foundation announced that they are burning over 55 billion of XLM tokens, which is more than half the supply.
There were about 200 attendees. Dixon told me that they did not want to burn them, but he stated that they were thinking about “What we need next?”
“As much as we wanted to use the Lumens that we held, it was tough to get them into the market.”
The burn shrunk the current supply to 50 billion. Some analysts opine that the burning process has made asset security.
Marco Montes Neri, the creator of the Saldo App, at the Meridian conference, stated, “If you want to touch real people’s money, you need to play ball with regulators.”
Jed McCaleb, the creator of the Stellar Lumens cryptocurrency, stated that they were always making sure that “Stellar is useful for actual people.” We do not avoid any regulatory situation.
Denelle Dixon reinstated, “We need to focus on getting more regulators involved.”
Governments do not tolerate innovation for too long. At a point in time, when they know the change is useful, they want to have control of it. And, when the government takes control of the process, they are going to tax the process to generate revenue.
Linda Schilling stated the rise of cryptocurrencies has, in some ways, pushed central banks to think about how to compete.”
Stellar Lumens has been doing a great job in unlocking the global economic potential and moving money unlimited money across the borders. Stellar is set to unite the world’s financial infrastructure. Several businesses are building world-changing financial tools by making use of the Stellar Network.
Asset-based tokens are going to trap the market in waves providing for improved liquidity of illiquid assets.
Satoshi Pay, located in Berlin, Germany, provides for micropayment requirements of clients. This micropayment solution is wholly based on a legal model.
Stellar powers IBM money Wire, and people have been using the network to send money globally for lower costs. Swapping between any pair of tokens that have been issued on the network gets easier. The network favors economic stability for everyone by making money more fluid and by making the market more people empowered.
In several areas across the world where the local currency is not as certain, Stellar provides access to reliable money. Significant financial institutions issue assets via the Stellar Network, and they settle the payments through the network.