The Notcoin community recently announced a $3 million burn, equivalent to 210 million NOT, which was confirmed by the NOT burn tracker. This reduction in supply fueled optimism about the future of the token, writes cryptoticker.io.

The burning is part of a larger community strategy. Following the successful listing and launch of the pool functions, unclaimed tokens were distributed into three categories: future development, burn, and rewards for Notcoin Explorers in the Gold and Platinum levels.

Along with the $3 million burn, $4.2 million of Notcoin was allocated as incentives for Gold and Platinum users. The community also stated that 94.18% of Notcoin is held by 11.5 million users, including traders, miners and stakers, and 5.82% is reserved in the treasury for future development.