The TON Foundation proposed a burn mechanism for the network, where they suggested a 50% transaction fee burn, if implemented when a user makes a transaction a portion of the tokens will get burned and the remaining will go to the validator.
A competing project, Tradecurve, saw an increase in the value of its utility token, TCRV, by a total of 50% in the past few weeks as well, initiating a high level of appeal for the project. We will go over both projects to see what they have to offer.
The TON Foundation’s Proposal
Ethereum’s EIP-1559 upgrade saw a massive reduction in network inflation, as the burn amounts were so large. TON’s proposed burn, on the other hand, will have a much smaller level of inflation because the transaction fees are dwarfed by the network’s staking reward. “In the short term, the deflationary impact may seem modest, estimated at roughly 350-400 Toncoin daily, given a daily issuance rate of 71,000 Toncoin,” the core lead developer at TON Foundation, Kirill Emelyanenko announced.
Moreover, if this burn mechanism does get implemented, whenever a user makes a transaction on top of TON, a portion of the tokens would get burned, with the remaining going to the validator as they would usually do.
The validator would also carry on receiving staking rewards for helping run the network. When we go over the value of the TON cryptocurrency, on June 2, 2023, it traded at $1.77. In the past 30 days, TON has been down 16.8%, and in the last week alone, it has seen a decline of 6.5%. This means that the cryptocurrency has entered the red zone, and investors are looking to diversify.
Why Tradecurve Has Spiked in Value by 50%
Tradecurve has seen a 50% increase in the value of its utility token TCRV, as investors are seeing the technological advancements this hybrid exchange brings to the table.
The Tradecurve exchange is an all-in-one platform that will revolutionize the trading industry by addressing the key issues that many CEXs face today, such as the inability to serve the unbanked or the mandatory KYC requirements.
As a result of this, the Tradecurve team has created a platform where users can trade across thousands of different markets directly from their crypto wallets, and this is possible due to the blockchain capabilities available. Users can just deposit crypto and use it as collateral whenever they make trades.
They can deposit Bitcoin, Ethereum, BNB, USDT, Dogecoin, and other supported cryptocurrencies. Users are also not restricted to just trading crypto on top of Tradecurve, as they can also access US and European equity CFDs, Forex, Indices, Commodities, Options ETFs, and Bonds.
Analysts predict that Tracdecurve can spike by 100x in value at launch. During Stage 3 of the presale, the token is offered at just $0.015, so investors and traders need to jump into it really for the best outcome and potential capital gains.
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