More PEPE Cannot be Minted, Supply to Decrease Overtime via Burns
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Amid the ongoing buzz surrounding the recently-launched meme coin PEPE, certain market watchers have conducted on-chain investigations on the asset’s contract code. The results of one of the most recent investigations suggest that the asset is, in fact, deflationary in nature. This means its supply can only reduce from here.
The recent disclosures were made by Cygaar, a notable yet pseudonymous software developer and one of the individuals behind the maintenance of the ERC721A standard.
There is burn functionality in this contract, but there is no further minting ability. This means that the supply of PEPE can only decrease from here on out. The tokens held by the blacklisted address can be considered locked up forever as well — cygaar (@0xCygaar) May 5, 2023
According to Cygaar, the PEPE contract code has an in-built burn functionality which indicates that tokens can be burned to reduce the asset’s circulating supply. PEPE has a total supply of 420.69 trillion tokens per data from price-tracking resource CoinGecko.
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