mandelbaum Posted November 5, 2019 Share Posted November 5, 2019 (edited) https://www.stellar.org/blog/sdfs-next-steps/ Quote we’ve decided to reduce our lumen allocations, and to rededicate what remains to what we now think Stellar needs most. We’ll use approximate numbers here in the text, but the chart and table to follow detail the precise amounts in question. Just before this announcement, we burned 5 billion lumens from our operating fund. It now stands at 12 billion lumens. This reduction isn’t in any way a retreat from our mission. It’s an acknowledgement that we owe it to the ecosystem, to the network, and to ourselves, to be as efficient as possible in our work. We’ve plotted the next ten years of Stellar’s growth and even with our greatly increased ambitions for SDF, we’re confident these funds will be enough to see us, and the network, through. At the same time, we’re ending Stellar’s World Giveaway Program (for individual airdrops) and our Partner Giveaway programs, both of which were created at the network’s inception. 50 billion of the 68 billion lumens in those programs have also been burned. We believe the number of lumens we hold now aligns better with our mission. SDF will not burn any additional lumens. To burn the lumens, we have sent them to a Stellar account with no signers (including a master key weight of 0): Holy cow. Edited November 5, 2019 by mandelbaum Global 1 Link to comment Share on other sites More sharing options...
XRP-JAG Posted November 5, 2019 Share Posted November 5, 2019 What's that. about half total supply? Price should be going up near 50% then maybe? Link to comment Share on other sites More sharing options...
mandelbaum Posted November 5, 2019 Author Share Posted November 5, 2019 (edited) 8 minutes ago, XRP-JAG said: What's that. about half total supply? Price should be going up near 50% then maybe? Coinmarketcap currently states 105 443 902 087, so minus 55 Billion brings the existing XLM down to 50 443 902 087. Weird, incidentally this comes a couple of weeks after the XRP supply not escrowed reached 50 Billion. Edited November 5, 2019 by mandelbaum Link to comment Share on other sites More sharing options...
Guest Posted November 5, 2019 Share Posted November 5, 2019 right before SWELL, sheer coincidence i'm sure not at all Jed still trying to sabotage XRP as always and get richer Link to comment Share on other sites More sharing options...
Guest Posted November 5, 2019 Share Posted November 5, 2019 Slime ********. Every year they try to outstage Ripple just before Swell. And although the supply price ratio is not, and should not be, a direct ratio, enough people think it is that the price will no doubt be positively impacted. Oh well, time to start getting used to a temporary near parity in XRP XLM prices. Sigh. An opportunity maybe for traders. Link to comment Share on other sites More sharing options...
yxxyun Posted November 5, 2019 Share Posted November 5, 2019 Stellar Meridian conference. Global 1 Link to comment Share on other sites More sharing options...
Guest Posted November 5, 2019 Share Posted November 5, 2019 poor old memberberries is going to have an absolute FIT with this news Link to comment Share on other sites More sharing options...
yxxyun Posted November 5, 2019 Share Posted November 5, 2019 Stellar made a mistake, they shouldn't burn 55 billion XLM at one time, they should burn 1 billion XLM every month until 55 billion burnt. Benchmark 1 Link to comment Share on other sites More sharing options...
AlejoMoreno Posted November 5, 2019 Share Posted November 5, 2019 The funny thing is, I bet the XLM price won't even respond 1:1 with the amount of coins burned. The thing about Stellar XLM is that they are always doing different out of the blue things, that don't necessarily line up with each other, that makes it seem like they aren't totally confident in what they are doing. I used to have some XLM and decided to sell all of it. Especially after reading into their operation and Jed. XLM, is also inflationary, so the supply is always increasing. So I guess as coins get created, they'll just do a burn every so often if the price has not responded the way the hoped? Link to comment Share on other sites More sharing options...
ixarepe Posted November 5, 2019 Share Posted November 5, 2019 Inflation has stopped as well. As much as I don't like the way Jed is interfering with Ripple because of his XRP stash I just increased my XLM holdings. Link to comment Share on other sites More sharing options...
Dario_o Posted November 5, 2019 Share Posted November 5, 2019 The black hole account where the 55B XLM are sent begins with GALAXY VOID https://stellar.expert/explorer/public/account/GALAXYVOIDAOPZTDLHILAJQKCVVFMD4IKLXLSZV5YHO7VY74IWZILUTO How did they manage to get an account address like this? Link to comment Share on other sites More sharing options...
Guest Posted November 5, 2019 Share Posted November 5, 2019 3 minutes ago, Dario_o said: The black hole account where the 55B XLM are sent begins with GALAXY VOID https://stellar.expert/explorer/public/account/GALAXYVOIDAOPZTDLHILAJQKCVVFMD4IKLXLSZV5YHO7VY74IWZILUTO How did they manage to get an account address like this? https://xrpvanity.com/ Link to comment Share on other sites More sharing options...
Guest Posted November 5, 2019 Share Posted November 5, 2019 Search google for XRP Vanity address and there are a few options. Same for Stellar. Link to comment Share on other sites More sharing options...
Flintstone Posted November 5, 2019 Share Posted November 5, 2019 My Raspberry Pi only ever managed a 4 letter word over a week Link to comment Share on other sites More sharing options...
Flintstone Posted November 5, 2019 Share Posted November 5, 2019 It was ‘Zerp’ though Link to comment Share on other sites More sharing options...
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