The proposal to burn 25% of the total PROPC token supply has officially passed, signaling a pivotal moment for Propchain. This initiative aims to reduce inflation and improve the token’s overall value by cutting the total supply from 84.9 million to 63.8 million PROPC tokens.
The Propchain DAO voted 93.77% in favour of the burn and 6.23% against the burn. Results are here for you to check.
As part of this burn, circulating supply will rise from 24.4% to 32.4%, adding scarcity to the token. The burn will also be executed pro-rata, ensuring all token holders retain their proportional ownership. This fair approach ensures stability for all participants.
Recently, Propchain also undertook buybacks totaling $750,000 from the open market and allocated an additional $2 million for purchasing vested presale tokens. These efforts, combined with the extended six-month vesting period for the team’s tokens, show Propchain’s commitment to sustaining growth and value.
Additionally, Propchain says it is aligning its strategy with broader market demands. By integrating the PROPC token into Prop.com, they are addressing inflation directly and focusing on enhancing tokenomics. This strategy is expected to boost investor confidence and position PROPC as an attractive investment.
According to the Propchain team, the entire burn process will be transparent and conducted on-chain. Propchain will provide regular updates to the community throughout the process, ensuring clarity and accountability.
