Near founder calls foundation token burn 'inefficient'

Illia Polosukhin, co-founder of Near Protocol, has dismissed a recent community proposal to burn foundation-held tokens, calling a simple burn a highly inefficient method. He stated that while other Layer 1 chains have decided to burn foundation tokens in the past, these actions failed to bring any real and concrete benefits to the market or ecosystem. Polosukhin revealed that instead of a one-time burn, the plan is to adopt a method similar to Bitcoin's by fixing the maximum token supply.