IO.net (IO) announced via its official Twitter that it has burned 1 million IO tokens in the first month since the introduction of its burn mechanism. This is attributed to the network's cumulative revenue of $25.75 million (approximately 35.5 billion KRW). IO.net previously unveiled its new tokenomics, the Incentive Dynamic Engine (IDE), in June. The IDE is structured to adjust the supply of IO tokens based on network usage, with its core being the permanent burning of IO using revenue generated from actual service utilization.
