While central banks all over the world are battling inflation, here at Paribus we’re continuing our drive to ensure we remain firmly deflationary. This month, as with previous months, our algorithm has been busy calculating the appropriate Deflationary Volume Incentive.
Based on the volume of PBX traded across all markets our algorithm determines the number of tokens we need to burn from our ecosystem. We do this by sending the tokens to a null wallet that can’t be accessed by anyone.
This process ensures that over time more and more tokens are removed from the ecosystem permanently. Once we launch the Paribus MVP the tokens to be burnt will be generated from transaction fees, gradually reducing the circulating supply over time. This quantity of PBX will fluctuate as trading volumes and the algorithm adapts to protect the value of our ecosystem.
The amount that has been calculated for this cycle is 41,586,428.85 PBX! This amount at current prices equates to $62,844.58.
The link below reflects the transaction: