BORA whitepaper
3.0 (EN)
3.0 (EN)
  • BORA 3.0: “Transition to Deflationary Tokenomics”
  • 1. Prologue
  • 2. BORA 3.0 - Implementing a Deflationary Framework
    • 2.1. Rollback of Inflation
    • 2.2. Gas Fee Policy Changes
    • 2.3. BORA Token Structure in BORA3.0
    • 2.4.Gas Fee(BORA Token) Burning Policy
    • 2.5. Application of Deflationary Token Economics
  • 3. Roadmap
  • 4. Miscellaneous
  • 5. Total number of BORA tokens in circulation
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  1. 2. BORA 3.0 - Implementing a Deflationary Framework

2.4.Gas Fee(BORA Token) Burning Policy

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As described earlier, BORA 3.0 uses BORA(BORA Chain) tokens as a gas fee when creating transactions. The following incineration policy applies to fees accrued in this way.

  • A portion of the gas fee generated from the transaction is permanently burned. The gas fee burn rate policy follows the decisions of the BORA Governance Council.

  • Among the BORA(BORA Chain) recovered through gas fees, the amount subject to incineration is regularly transferred to an address dedicated to burning address (Dead wallet), and the details of these transactions are made public for transparency.

  • Burning Address: 0x0000000000000000000000000000000000feefed

  • Since this is a method of sending tokens to a burn-only address rather than burning them directly, it does not affect the total issued amount of BORA(Klaytn) tokens(1,205,750,000), and the circulation volume is reduced by the amount of tokens sent to the burned token address.

  • The remaining gas fee, excluding incineration, is stored in a separate address and used for ecosystem reinvestment.

  • Policies regarding the incineration rate of gas fees and how to utilize remaining fees are managed through decision-making by the BORA Governance Council, and the policies can be modified through the same procedure.