XLM Burns 55 Billion Coins That Equals Approx Half Of Its Supply

On Nov 5, 2019

Stellar Development Foundation (SDF) just announced that it successfully burns the 55 billion coins of XLM that is approximately equivalent to half of its supply, reported on 04 November 2019.

In order to burn the XLM coins, the SDF send them to a Stellar account with no signers (including a master key weight of 0):
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The SDF said that the number of Stellar lumens (XLM) now aligns better with our mission and they will not burn any additional XLM in the future.

Currently, only 50 Billion XLM coins are in existence as per the SDF report. There are 30 Billion XLM coins still under control of SDF that will be used by them to support the project and for the development of Stellar Lumen.

The Allocation of 30 billion XLM coins of SDF is for the following purposes:

The 12 billion remaining from SDF’s operating fund will be dedicated to an aggressive program of direct development and advocacy for Stellar.
2 billion of the lumens left from the partnership program will be dedicated to ecosystem support
The other 10 billion from the original partnership allocation will go to identifying and fostering sustainable Stellar use-cases
Finally, because giveaways like airdrops have been the least effective programs for Stellar, we’re only keeping 6 billion lumens from the original World Giveaway pool.