Crypto asset trading platform Websea announces the one-time burn of 57 million WBS platform tokens.

According to TechFlow, on December 23, according to official news, the crypto asset trading platform Websea announced that it has officially completed a one-time on-chain burn of 57,000,000 WBS today.

This burn comes from all tokens released in the current on-chain lock-up contract, corresponding to 19% of the initial total locked amount, and has now been permanently destroyed. After the burn, the total supply of WBS has decreased from 300 millions to 167 millions. In the future, according to the established deflationary mechanism, continuous buybacks and burns will be carried out, ultimately converging the total supply to 100 millions.

It is reported that, with the deep expansion of the Websea ecosystem and the implementation of the Yongying Fund deflationary model, the platform has chosen a more deterministic approach to enhance the long-term value of WBS. This burn will change the supply structure and scarcity of the WBS platform token.