Community approves CFX Burn & Staking Vote, causing 76M CFX to be burned and 500M to be staked.

The Conflux Network’s community has spoken, giving thumbs up to the proposal to burn and stake CFX. This decision will see a monumental shift with approximately 76 million CFX being burned.

To lower the Proof of Stake (PoS) Annual Percentage Rate (APR) to roughly 13.38%, around 500 million CFX will be staked. The Conflux Foundation is expected to implement the burn operation soon.