KGEN to burn tokens equal to 10% of circulating supply

KGEN, a decentralized identity and reputation verification protocol, announced it will permanently burn 22 million KGEN tokens, equivalent to about 10% of the circulating supply. The burn will consist of unclaimed airdropped tokens and unsold node allocations. The project also stated it has no plans to distribute new tokens for the time being, eliminating additional supply pressure. Furthermore, KGEN plans to build a deflationary model by using revenue from future AI contracts to buy back and burn its tokens.