The talks around the Stellar burning more than the half of its tokens’ total supply still remain.
Recently, CTO of Ripple David Schwartz tweeted a video of himself in a plane after the Swell Conference in Singapore, saying they made lots of fun making a video after the end of SwellbyRipple. Replying to this tweet, one of the users wrote: “No Fun here at 25 cents.”
Responding, David sarcastically pointed out Stellar burning 55 billion XLM: “Too bad XRP is decentralized or someone could just burn half the supply & raise the price to 29%.”
However, this tweet didn’t stay without answer by the Stellar side. Stellar Co-founder Jed McCaleb, who also co-founded Ripple Lab, had some comments:
Wtf are you talking about. Ripple labs can burn half the XRP supply.
— Jed McCaleb (@JedMcCaleb) November 9, 2019
Thanks! I’ll keep that in mind if we ever find that nothing we’re doing is working.
— David Schwartz (@JoelKatz) November 9, 2019
It’s worth to note that David Schwartz is not the only important persons in crypto industry to criticize Stellar Foundation for burning more than half of its XLM. Founder of Litecoin Charlie Lee also expressed his negative thoughts regarding Stellar’s actions. He mentioned that the burnt coins could be distributed to the community.
“Stellar Development Foundation only burned 5B of their own 17B XLMs. This means SDF increased their percent of total coins from 16% (17/105) to 24% (12/50). And they did this without any community discussions,” he added.