Nov 5, 2019 ⋅ 1 min read
Stellar’s foundation has burned more than 55 billion Lumen ($XLM) tokens as it moves away from airdrop programs. Previously the foundation had retained 68 billion Lumens earmarked for giveaways in order to grow the community. Citing a declining utility from airdrops the SDF burned 50 billion of those tokens along with 5 billion of the 17 billion previously held in its operating fund. The team laid out a new strategy that focuses on developers and building the ecosystem using the remaining XLM held by the SDF.
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