Reef to Hold Token Burn

Reef has announced the burning of 72,989,743 REEF tokens on legacy chains.This action brings the total amount of REEF tokens burned on Ethereum and BNB Chain to 1,098,338,759. Refer to the official tweet by REEF: 🔥🚨 BURN ALERT 🚨🔥BNB Chain Burn Tx: Ethereum Burn Tx: Today we burnt 72,989,743 on legacy chains!In total we have burnt 1,098,338,759 on Ethereum and BNB Chain. REEF InfoReef is a comprehensive blockchain solution developed using Parity’s Substrate technology. Initiated in 2019 by Denko Mancheski, it started as a DeFi platform and has since evolved into a robust layer 1 blockchain, providing a unified platform for complex applications.The Reef network operates on a Nominated Proof of Stake (NPoS) consensus mechanism. This system allows nominators to stake their REEF tokens in support of validators, who in turn, process and validate transaction blocks. When a validator successfully completes this process, the reward is distributed between the validator and the backing nominators, promoting a cooperative system.The native token of the Reef network, REEF, plays a critical role in network governance and transaction fee payments.