Heima Community Approves Proposal to Burn 16.5 Million HEI Tokens

Heima’s community has approved a proposal to burn 16.5 million HEI tokens from its ecosystem allocation. According to Foresight News, the burn would include 12.05 million locked HEI tokens and 4.45 million unlocked but unused HEI tokens. The funds were originally reserved for a Polkadot parachain auction. Heima said that after Polkadot shifted from parachain auctions to Coretime sales, the required DOT costs can now be covered through the team-reserved DOT treasury. Heima said the burn will not occur immediately after the referendum ends. The operation is scheduled to be executed at 288,000 blocks after the referendum passes, which is estimated to take about 40 to 60 days from today based on block time.