Lithosphere (LITHO) Founder Joel Kasr Proposes Burning Half Litho Supply, Lithosphere Roadmap Updated

SEATTLE, August 30, 2022 /PRNewswire/ — Joel Kasr, KaJ Laboratories founder and creator, proposed to burn/reduce Litho’s maximum supply to 500 million from 1 billion once mainnet goes live in 2023. Proposal is part of Litho’s updated roadmap for sustainability continuous and long-term network.

The proposal aims to decentralize Blockchain Lithosphere while increasing the usefulness of the chain’s native token – the LITHO coin. Token burning would also improve Litho’s intrinsic value by burning some of the gas fee. Litho holders will decide how to send gas rewards once the Litho DAO has been established.

The measure may or may not be implemented, pending a vote. The exact mechanism of the burn would be decided at a later date, along with the percentage to be burned. This would result in less transaction fees since the coins would cease to be accessible and work towards more stable transaction fees.

Removing the tokens from circulation would significantly increase the value of the remaining tokens LITHO tokens, while paving the way for a deflationary economy and increasing purchasing power. The plan would work similarly to a company stock buyback, in which the value increases due to a reduced supply.

The proposal to burn half of the 1 billion Litho supply could potentially be a game-changer and a strategic move towards the long-term sustainability of the cryptocurrency. This would increase the utility of LITHO while stabilizing fees.

About the lithosphere

Lithosphere is the next-generation network for cross-chain applications powered by AI and Deep Learning.

About KaJ Laboratories

KaJ Laboratories is a decentralized research organization focused on AI and blockchain technology. We are committed to creating innovative products that work for the greater good around the world.

Media inquiries
Catherine Sander
Phone: (707)-622-6168
E-mail: [email protected]
KaJ Labs Foundation
4730 University Way NE 104-#175
Seattle, WA 98105

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