On March 20, the DuckChain community voted to pass a resolution on the cancellation of 545,121,670 DUCK (equivalent to 9.24% of the circulating supply and 5.45% of the total supply). These are tokens that were previously distributed for free through the Airdrop program but were not claimed by anyone. According to the official announcement from DuckChain, the burning process has been completed, and the related transaction data has been made public on the Blockchain to ensure transparency.

The burning of more than 5.45% of the total DUCK supply may have a significant impact on the economic mechanism of the DuckChain ecosystem. This action helps reduce the circulating Token supply, which may affect the scarcity of DUCK in the market. In the past, such supply reduction events often tend to support Token prices, depending on the actual demand from investors.

According to data from CoinGecko, immediately after the confirmation of the Token burning, the DUCK price has increased 13.5% in the last 24 hours, currently trading at $0.004338. This indicates a positive market reaction, as investors expect the long-term impact of the reduced supply on the value of DUCK.

Analysts believe that this move may help strengthen the community's confidence in DuckChain and drive the development of the ecosystem. However, the actual effectiveness of this burning event will depend on various factors, including the level of DUCK usage in DeFi applications, Non-Fungible Tokens, and other projects on the DuckChain platform.