Cysic to burn 7.2M CYS after cross-chain bridge exploit
- —7.2 million CYS will be burned from foundation reserves
- —The burn is scheduled for completion by end-October
- —It offsets unauthorized minting after the bridge exploit
- —Supply will be realigned with the token's tokenomics model
Why it matters: The burn cuts CYS supply and shows how the project is cleaning up after a bridge exploit; traders will watch execution and the token's price reaction.
Source: PANews