Stader Labs' proposal to destroy 20% of SD tokens was approved
On May 31st, Stader Labs, a multi-chain liquidity collateral platform, announced that its proposal to destroy 20% of the total supply of SD tokens has been approved. This marks the completion of the first phase of the SD token's economic transformation. The proposal suggests that due to concerns over the low float and high FDV of the SD token, 20% of the total token supply, or 30 million SD tokens, will be destroyed, reducing the total supply from 150 million to 120 million.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
JPMorgan tests public blockchain for tokenized US Treasuries
Ethereum Foundation Launches Trillion Dollar Security Initiative to Strengthen Network
The Ethereum Foundation has launched a “Trillion Dollar Security Initiative” to enhance the security and resilience of the Ethereum blockchain. This program aims to protect the network, which supports a wide range of decentralized finance applications, NFTs, and smart contracts.
MetaMask Token Launch Remains Uncertain, Says Co-Founder Dan Finlay
MetaMask is still considering the launch of a native token, but no definitive plans have been made yet. Dan Finlay, MetaMask’s co-founder, described the possibility of a token as a “maybe” during an interview on The Block’s “Crypto Beat” podcast on May 14, 2025.
Is the XRP price rally over for now?
Trending news
MoreCrypto prices
More
