Automated Supply Control
2.5% of all $RING traded are burnt in the Automated Supply Control. The more that is traded, the more get put into the abysm causing the circulating supply to be reduced and keeping the RingFi protocol stable and healthy in the long term.
This is the most vital part of the protocol, the purpose of burns is to counter the inflation caused by the positive rebase formula, it is through our strong focus on countering inflation that we believe we will generate far greater USD value for our holders, despite paying out competitive APY! The ASC is the engine room of the project, everything else is built to sustain it.
Since the supply control funds are out of circulation, to check the amount of tokens in the supply control you must
1- Copy the supply control address (0xA8B02396920388b926728B3646A27be4a2c66B76) 2- Head to read the RING contract (0x021988d2c89b1A9Ff56641b2F247942358FF05c9) 3- Check for function ''19. BalanceOf'' and paste the address 4- Click query You’ll see the balance then. Keep in mind there are 5 decimals in RING