Interesting dynamics around $BEL token ownership structure right now. The top wallet controlling this asset holds roughly 4.5% of total supply while also collecting transaction fees from the protocol.

What's catching attention is the community sentiment around supply mechanics. Token holders running projects in similar ecosystems have shown strong preference for deflationary actions - basically, burning tokens tends to get positive reactions from the crowd.

The logic isn't complicated: reducing circulating supply while demand stays constant (or grows) creates upward price pressure. It's tokenomics 101, but execution matters. When major holders make moves like this, it signals confidence and aligns incentives between whales and retail.

Worth watching how this plays out, especially if the holder decides to act on community feedback. Could set a precedent for how concentrated ownership interacts with decentralized governance expectations.