TON Foundation Proposes to Introduce Destruction Mechanism

The Open Network (TON) Foundation is proposing to introduce a destruction mechanism that would destroy 50% of all transaction fees on the TON network, according to The Block. If the destruction mechanism is implemented, a portion of these tokens will be destroyed when users make transactions on the network, and the rest will go to the validator as usual. Validators will also continue to receive pledge rewards for helping to run the network. The proposal needs to be approved by a majority of TON validators to take effect, and it has been passed to validators and is being discussed. A network-wide vote to activate this feature is scheduled for June 15. 

Kirill Emelyanenko, core lead developer of the TON Foundation, said: "In the short term, the impact of deflation may seem small, estimated at around 350-400 Toncoin per day, given the daily issue rate of 71,000 Toncoin. However, as the network capacity grows, this number is likely to increase significantly, leading to a significant deflation in the total and circulating supply. "