Internet Computer Network Announces Major Update and Burn Mechanism for ICP Tokens

The DFINITY Foundation has announced a significant change to the Internet Computer (ICP) network's economic model. The revenue structure for node providers has been restructured, making it performance and demand-driven. 80% of revenue from cloud engine services will be distributed to nodes providing computing power, while 20% will be used to burn ICP tokens, reducing supply in parallel with network usage. This change aims to make the network more sustainable and market-oriented. ICP token is currently trading at $2.27, up 6.49% in the last 24 hours.