More than 2 billion SMART coins have been burned

9 February 2024

At the launch of SMART BLOCKCHAIN, the first transaction in the blockchain was conducted. Specifically, an address with a negative balance of -9,223,372,036,854.775 SMART coins was created.

Burning Wallet is a wallet from which coins cannot be withdrawn.

Currently, the amount of SMART in the Burning Wallet has been reduced by more than 2,000,000,000 SMART — this means that 2 billion SMART coins were burned thanks to the Network Fee and Burn Fee within the network!

You can view the first transaction in the blockchain on the Burning Wallet here: https://smartexplorer.com/transaction/7689c47b9ba749e6d7b19f69d11a42e908472e94b7fb08906059edc74334c03c

And here is the current balance of SMART on the Burning Wallet: https://smartexplorer.com/address/sSfKKzV81Jw9K2uerSFqrY6eMD97PNMRbn

Where is the SMART coin used?

SMART is used as the network commission or NETWORK Fee in SMART BLOCKCHAIN for all transactions within the network.

In any P2P transaction (from user to user).

When purchasing cashback vouchers.

When receiving cashback to SMART WALLET.

With every split contract purchase.

With every reward request in ULTIMA in your SMART WALLET from VIP, UNITY, and GOLD pools.

With deposits and withdrawals of ULTIMA from exchanges.

SMART is also used as a BURN FEE — a commission necessary for the blockchain to conduct all transactions with ULTIMA tokens. This means that a transaction with ULTIMA increases the amount of SMART burned!

All SMART is automatically sent to the Burning Wallet! Now, the BURN FEE has increased to 5%, which also increases the demand for SMART and helps grow its liquidity

You can pay for promo split licenses at a fixed rate of $0.10 with SMART coin from the Smart Swapping balance.

Soon, the SMART WALLET will also feature SMART staking functionality! This way, to support the SMART BLOCKCHAIN network, you can freeze SMART and get rewards for it!

SMART BLOCKCHAIN processes over 120,000 transactions daily, indicating its high throughput! The number of wallets created in the network has reached almost 600,000. This means that almost 3,000 new SMART BLOCKCHAIN users are joining every day!