**This proposal suggests the burn of: $PEN 14,386,762 from treasury, reducing current issuance temporarily near the target value of $150,000,000. This is only a first step forward.** 

**As a second and final step the PEN token source for collator rewards will be changed to the treasury instead of issuing new PEN tokens. This 2nd step involves some more development work and is planned in a separate governance proposal, later this year.**&#x20;



\------

* The current total issuance of PEN is '164386762744678896149' ie \~164.386 mil PEN.&#x20;
* The balance of the treasury is '60520383266515837481' ie \~60.52 mil PEN, see [here](https://pendulum.subscan.io/account/13UVJyLnbVp9RBZYFwFGyDvVd1y27Tt8tkntv6Q7JVPhFsTB).

This root transaction force-sets the balance of the treasury to '46133620521836941332' ie. \~46.13 mil PEN reducing the total issuance by '14386762744678896149' ie \~14.38 mil PEN, thus leading to a total issuance of 150 mil PEN.&#x20;

See [`Pallet::external_propose_majority`].

#70 Burn 14 mil PEN tokens from treasury to reduce total issuance to 150 mil PEN

No Active Proposals