The Starcoin Foundation destroyed 55 billion XLM, and the price of the currency rose by 24%.

On November 5th, the Stellar Development Foundation (SDF) restructured its development strategy, which has destroyed a total of 55 billion XLM (market value of $4.4 billion).

It is reported that the non-profit organization announced on Monday that the total amount of stellar coins is currently 50 billion, and the total amount of stellar coins before the destruction is 105 billion. According to a blog post published by the organization, most of the remaining funds will be used to develop the stellar blockchain, develop applications, and support partners.

(Figure: Stellar Coin Allocation Adjustment Plan)

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It is worth noting that the remaining 8 billion stellar coins will become part of the Stellar Enterprise Fund, which will be used directly to invest in or acquire companies that “help the stellar ecosystem”.

The blog post also mentioned that the SDF Foundation did not completely abandon the airdrop strategy, and the foundation will still allocate 4 billion stars through market cooperation.

In September of this year, SDF announced that it will airdrop 2 million stellar coins through the messaging application Keybase, which is an airdrop project that the Foundation may continue to carry out. In November last year, SDF also cooperated with the cryptocurrency wallet provider Blockchain, which dropped a $125 million worth of stellar coins.

According to data provided by qkl123.com, as of press time, the market price of Xingxing (XLM) has increased by 24%.

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