Arkreen's November 2024 Token Burn: A Commitment to Sustainability

Sunday, December 8, 2024 12:00 AM
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Arkreen's November 2024 Token Burn: A Commitment to Sustainability cover

Arkreen is making significant strides in promoting transparency and community trust through its monthly token burn initiative. For November 2024, the total burn of $AKRE tokens reached 1,016,816.02, reflecting the company’s commitment to sustainability and accountability. The process involves a service fee for issuing tokenized Renewable Energy Certificates (ART), with each ART equating to 1000 $AKRE. In November, Arkreen issued 370.91467 ART, collecting fees amounting to 370,914.67 $AKRE. Of this, 296,731.74 $AKRE was allocated for burning, while 74,182.93 $AKRE was directed to the treasury, enhancing the ecosystem’s financial health.

In addition to the issuance fees, November 2024 marked a pivotal moment for Arkreen with the introduction of service fees for on-chain ART offsets. This new initiative allocates 80% of the collected fees for token burns, reinforcing the deflationary model of the ecosystem. Each ART offset incurs a fee of 1 ART = 1000 $AKRE, with the Arkreen Foundation currently sponsoring these fees during the smart contract upgrade. In November, 900.10535 ART offsets were processed, resulting in 720,084.28 $AKRE planned for burning and 180,021.07 $AKRE allocated to the treasury.

Looking ahead, Arkreen remains dedicated to its mission of fostering a sustainable and decentralized future. The token burns are a crucial aspect of maintaining a deflationary model, which not only enhances value for stakeholders but also supports the growth of decentralized renewable energy solutions. With a remaining supply of 9,988,588,639.63 $AKRE, Arkreen is poised for future success, with additional burns planned based on utility revenue. The community is encouraged to stay engaged as Arkreen continues its journey toward a greener tomorrow, with the next update expected in January 2025.

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