The Heima community has voted to burn 16.5 million HEI tokens, with funds coming from the ecological allocation originally reserved for the Polkadot parachain auction. Out of this, 12.05 million are locked tokens, while 4.45 million are unlocked but unused tokens.
The key takeaway isn't just the 'supply reduction', but also the fact that after the Polkadot mechanism shifted from parachain auctions to Coretime, Heima has opted to cover the related costs using its team's reserved DOT treasury, thereby freeing up the original allocation for burning.
However, the burn won't happen immediately. It's expected to take place after 288,000 blocks post-vote approval, which with the current block time, should take around 40 to 60 days. Moving forward, keep an eye on the on-chain execution progress and the market's reaction to the supply changes.
$HEI #Heima #Polkadot
The key takeaway isn't just the 'supply reduction', but also the fact that after the Polkadot mechanism shifted from parachain auctions to Coretime, Heima has opted to cover the related costs using its team's reserved DOT treasury, thereby freeing up the original allocation for burning.
However, the burn won't happen immediately. It's expected to take place after 288,000 blocks post-vote approval, which with the current block time, should take around 40 to 60 days. Moving forward, keep an eye on the on-chain execution progress and the market's reaction to the supply changes.
$HEI #Heima #Polkadot