Recently, $XLD conducted its first ever burn event, as every crypto token does to add scarcity of the token and triggers a price appreciation of the remaining tokens in circulation.The burn event was concluded on Sunday, May 15, 2022 when 674,582 XLD was burnt from the loyalty supply address and revenue wallet.

In detail, 412,291 XLD was burnt from the loyalty supply address whereas 262,291 XLD was burnt from the revenue wallet.

Check the corresponding transaction hash for both event:

0x0f3cb7d86058779b9e4a8c9177f379b5fdec6ea4a3f2556733c97dcaee096c93 and 0xcb28fb3710dd1fdd8b122137db651beb27e01151ddd5deb678e890b9b002908a.

The XLD dev team has notified all the XLD holders that the burn event will take place on a monthly basis until 46% of the total initial supply of 111 million of XLD is permanently burned, i.e. 50 million XLD will be reduced to the overall initial supply of 61 million.

The number of XLD burnt each month will be determined from the gross profits collected from XcelPay Wallet, Xceltrip and Xcelswap in the preceding month. Furthermore, In future, the revenue collected from XcelNFT and Xcelswap’s farms will also be included to buy back the XLD from the market to include in monthly burn events.

The burn event will take place on the 15th day of every month, so make sure to mark it on your calendar to never miss an update.

Track XLD token holders XLD contract address : 0xC79d1fD14F514cD713b5cA43D288a782Ae53eAb2

Track XLD burn details here: https://www.xceldefi.com/burnevents.

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