TON Blockchainannounced that it has frozen $2.6 billion worth of inactive tokens.
Inactive miner wallets on TON Blockchain have been suspended for 4 years if they are inactive without any action. The company shared the announcement on Twitter.
TON Blockchain Freezes Inactive Tokens by Voting
According to the results of a community vote held on February 22, The Open Network, a Layer-1 Blockchain formerly created by Telegram ( TON) users and validators voted to have their wallets suspended for four years if miners remain inactive and remain inactive.
The result from the voting resulted in the suspension of 1,081,389,416 Toncoins. This corresponds to approximately 2.6 million dollars.
💎 TON's tokenomics optimization
On Feb. 21, on @ton_blockchain the validators will vote on a proposal to optimize tokenomics. If the proposal is accepted, the circulating supply of Toncoin will be reduced by ~20% by freezing it for the next 48 months and then unfreezing it. pic.twitter.com/MXwWjt7YAZ
— Tonstarter (@ton_starter) February 20, 2023
The company made the following statement on Twitter:
“On February 21, Ton Blockchain validators will vote on a proposal to optimize tokenomics. If the proposal is accepted, the circulating supply of Toncoins will be reduced by approximately 20 percent by freezing and then thawing over the next 48 months.”
In the voting that took place the next day of this post, the decision was to freeze. Miners’ accounts will be frozen if the conditions are right.
