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After the recent announcement that the Stellar Development Foundation (SDF) had burned roughly 55 Billion XLM, Charlie Lee took to Twitter to point out that based on the math, the SDF had actually increased their control of the coin’s supply by about 8%. This observation was met with some push-back from the XLM community, including attacks on Lee himself.
As BeInCrypto has recently reported, the destruction of roughly half (https://beincrypto.com/stellar-development-foundation-burns-55-billion-xlm-coins-reveals-new-strategy/?utm_campaign=amba&utm_medium=social&utm_source=altcoinstalks&utm_content=jc) the supply of XLM led to an almost immediate bump (https://beincrypto.com/stellar-burns-more-than-50-of-xlm-in-circulation-price-spikes-as-a-result/?utm_campaign=amba&utm_medium=social&utm_source=altcoinstalks&utm_content=jc) in the current market price. The stated reason for this decision “was to be as efficient as possible in our work,” going on to say that “those 55.5 billion lumens weren’t going to increase the adoption of Stellar.”
To read the full news, you can go here (https://beincrypto.com/xlm-burn-increased-coins-centralization-argues-charlie-lee/?utm_campaign=amba&utm_medium=social&utm_source=altcoinstalks&utm_content=jc)
To all of the XLM holders, I have a question for you. Do you honestly agree about Charlie Lee's claims that XLM's coin would increase centralization after that 55 billion burn?
Let me know your thoughts about this one guys! Thanks in advance!