Ionet burns 1M IO tokens in first month of new mechanism

Ionet (IO) announced on its official X account that it has burned one million IO tokens in the first month since implementing its burn mechanism. The move follows the network generating cumulative revenue of $25.75 million. In June, Ionet unveiled its new tokenomics model, the Incentive Dynamic Engine (IDE). The core feature of the IDE is the permanent burning of IO tokens using revenue from service usage, which adjusts the token supply based on network activity.