Ok, when you look at this title, you don't have exactly the feeling that mountains have been moved. When being familiar with the project, you realize however that for the past months we burnt on average 0.2 to 0.3 CTPSB per week.
During the last weeks, we implemented a new burning mechansime (check the earlier posts to learn more about it) and it's nice to see that we have managed to double the number of burnt tokens this week!
Why burning matters?
Since the value of each CTPSB is defined by the Hive Power on the @ctpsb account divided by the number of tokens in circulation, burning matters greatly. Together with the curation rewards, the post rewards, it adds value to the CTPSB token. Bringing the APR much higher than what curation makes normally possible on Hive.
Since the project mainly grows thanks to the hive power generating income, reducing the token numbers has a long term effect. With a steady growth of hive power and a continuously decreasing number of tokens, the growth of the token value should continue quite strongly in the future.
The numbers of this week
Keeping in account that this week comprehended 8 days, we still made a very nice progress. The APR for the token calculated on the average of the last two weeks, increased from 15 to 16.1%. Also the token value increased by 0.011 Hive in 8 days!
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