TechFlow news, on December 23, according to official information, the cryptocurrency trading platform Websea announced today the one-time on-chain burn of 57,000,000 WBS tokens has been officially completed.
This burn originates from all tokens released in this cycle's on-chain locked contract, corresponding to 19% of the initially locked total supply, which have now been permanently burned. After the burn, the total supply of WBS has decreased from 300 million to 167 million. In the future, ongoing buybacks and burns will continue according to the established deflationary mechanism, ultimately converging the total supply to 100 million tokens.
It is reported that as Websea's ecosystem expands deeply and the Yongying Fund's deflationary model rolls out, the platform has chosen a more deterministic approach to enhance the long-term value of WBS. This burn will alter the supply structure and scarcity of the WBS platform token.
