- Clore to burn 300 million tokens, reducing maximum supply from 1.3 billion to 1 billion coins following their upcoming Proof of Stake transition.
- Server rewards will be capped at double the rental price to ensure fairer distribution among community members.
- Unused newly minted coins will be systematically burned to maintain economic balance within the ecosystem.
Clore has announced a substantial token supply reduction and significant changes to its reward structure as part of its transition to Proof of Stake (PoS). The cryptocurrency project will permanently remove 300 million tokens from circulation, reducing the maximum supply by 23% from 1.3 billion to 1 billion coins.
This strategic burn operation is scheduled to occur immediately following Clore’s upcoming hard fork associated with its shift to the more energy-efficient Proof of Stake consensus mechanism. The exact date for the event will be announced in advance to ensure community members can prepare accordingly.
“This important step aims to increase scarcity and enhance value for all coin holders,” according to the Clore team’s statement. The reduction in total supply represents a deflationary measure commonly employed by cryptocurrency projects to potentially increase token value by limiting availability.
In addition to the token burn, Clore is implementing a new cap on rewards distributed to server providers on its platform. The updated system will limit rewards to double the rental price of each server. For example, if a server rents for $10, the provider will receive that $10 payment plus up to an additional $10 in Clore tokens as a bonus, for a maximum total of $20 deposited directly into their wallet.
This reward structure modification primarily affects users operating high-powered servers or those with substantial funds in Proof of Holding (PoH). According to the project’s statement, this change is designed to “increase profitability and fairness for the broader user community” by preventing reward concentration among the largest stakeholders.
Further enhancing its deflationary tokenomics, Clore has also announced that all newly minted coins not distributed to users will be systematically burned. This ongoing burn mechanism aims to maintain economic balance within the ecosystem while potentially increasing scarcity over time.
The Clore team emphasized these changes reflect their “ongoing commitment to enhancing value, fairness, and sustainability” within their community. They’ve promised additional details and specific dates for these updates in forthcoming announcements.
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