I have an idea of a dapp that would motivate people to burn SUI, reducing its supply and driving deflation.
I need a way to burn the SUI token, something that would show up on charts.
Is it possible?
I have an idea of a dapp that would motivate people to burn SUI, reducing its supply and driving deflation.
I need a way to burn the SUI token, something that would show up on charts.
Is it possible?
Technically, it’s possible to “burn” SUI, but not in the same way as other tokens.
In Sui’s design, burning a token usually involves calling the coin::burn
function, which reduces the total supply via the TreasuryCap
. However, for SUI specifically, the TreasuryCap
was destroyed at genesis when the SUI token was created, which means that there’s no TreasuryCap
to decrease the supply anymore.
This means that while you can create a mechanism in your dApp to send SUI to an inaccessible address (effectively removing it from circulation), it won’t reflect in charts as a reduction in the total supply of SUI. It would still show up on the blockchain, but it wouldn’t impact the overall supply in a way that directly drives deflation through a decrease in the official token supply.
If you’re looking to create a deflationary mechanism, you might need to work on a system that achieves this indirectly, for instance by encouraging users to lock or make SUI inaccessible in some other way.