Burn Address
Yes, Garlicoin has a designated burn address where coins can be permanently removed from circulation. This address is:
GRLCBREADBURNEDADDRESSXXXXXXZjD9WK (View on explorer).
What is a Burn Address and its Impact on Supply?
A burn address is a special address without an accessible private key. Any Garlicoin (GRLC) sent to this address is considered permanently removed from circulation, also known as "burned." The maximum total supply of Garlicoin is capped at 69 million, similar to Bitcoin’s fixed supply model. This makes Garlicoin a deflationary currency with a limited supply.
As of now, the burn address contains approximately 1,710,145.35696969 GRLC, reducing the maximum circulating supply to around 67,289,854.643 GRLC.
Lost Coins and their Impact on Supply
Garlicoin was created in 2018, and since then, some coins have been naturally lost over time due to lost private keys. An estimated amount of these lost coins—those inactive for over 500 days—can be viewed on the Garlicoin charts page.
As of the time of writing, over 53 million coins are estimated to be inactive. Consequently, the actual circulating supply of Garlicoin is quite low, with only about 14 million GRLC actively available.