Zeebu is pleased to announce that it has completed its second token burn, which took place on May 3rd, 2023, as part of its quarterly Auto-burn mechanism.
Token burns play a crucial role in the Zeebu ecosystem and tokenomics, as they aim to reduce the token supply over time, supporting the consumptive mechanism and long-term sustainability of ZBU tokens.
Since introducing the Phoenix Protocol, the quarterly Auto-burn mechanism in 2024, Zeebu has continued to burn a significant amount of ZBU tokens. A dynamic number of tokens burned in each quarter is publicly available on Blockchain Explorer, and we’re proud to share the proof of the latest burn of ZBU tokens.
ZBU Tokens into the Flames
Zeebu has completed the second burn of ZBU tokens, removing 239M ZBU tokens forever. This equates to 4.7% of the total supply of Zeebu tokens. Details are as follows:
ZBU burned: 239,735,444.616003
Initial Total supply: 5,000,000,000
Total supply after 1st burn: 4,761,874,012
Total supply after 2nd burn: 4,522,138,567
Percentage of total supply burned: 4.79%
Time of burn: May-02-2024 06:29:18 PM +UTC
Transaction ID: View on chain
This token burn will continue to support the balance and health of the Zeebu ecosystem. As we continue to expand our ecosystem, we remain committed to bringing more utility to ZBU and expanding Zeebu’s platform by bringing more telecom carriers and businesses on board.
Zeebu is building an alternative payment solution to the traditional finance ecosystem, offering efficient, scalable, and user-centric payment products. Built on a blockchain layer, Zeebu's platform ensures robust liquidity for instant payments, decentralized governance that allows active community participation in decision-making, and a borderless rewards program to engage users globally. This innovative approach provides a sustainable, collaborative environment, ensuring Zeebu evolves to meet the industry's needs and establishes a comprehensive, decentralized ecosystem for all users.
The core strength lies in its custom-built platform. Designed for ease of use, it offers a comprehensive suite of features, including loyalty rewards and automated invoice settlement – a true one-stop solution for telecom payment needs.
Zeebu has demonstrably established itself within the telecom industry. They boast over 100 active telecom carriers using their platform and have successfully settled over 25,000 invoices, exceeding $1.7 billion in total settlement volume.
Zeebu's Mission: Streamlining Global Commerce
Zeebu is on a mission to revolutionize global commerce for enterprises and businesses. The platform aims to achieve this by building a decentralized payment ecosystem powered by blockchain technology, smart contracts, and DeFi. This innovative approach promises:
- Enhanced Efficiency: Zeebu streamlines global transactions, eliminating delays and human errors.
- Unparalleled Transparency: Transactions are provably instant and secure, fostering trust within the ecosystem.
- Reduced Costs: By eliminating FX fees and other charges, Zeebu offers a more cost-effective solution.
- Rewarding Experience: Zeebu incentivizes participation with a robust rewards program.
Zeebu aspires to become the leading platform for global payments. The company envisions a future where businesses can rely on Zeebu's secure and user-friendly environment for a wide range of features and a seamless payment experience.
The continued support of the community, team, and ecosystem partners is appreciated, with more updates to come soon.
Stay tuned for more updates on the blog page and socials to see more from Zeebu.