Hello Everyone,
I have created an asset in stellar backed by a proposed stable coin . I have searched on a way to burn the assets , but it seems we can burn the assets by sending tokens to issuer.
but in my case as it is backed by stable coin , total supply of assets is unlimited , it should be issued runtime (which is working) but cannot be burned as the total supply is limited.
Also was keen to know how other stable coins on stellar work.

can anyone guide us here?

    Vijayta I think it should work somewhat like this:

    Issuing a stablecoin:

    1. Receive deposit in your bank account.
    2. Send the token from your issuing account to the user. This grows the total supply.

    Burning a stablecoin:

    1. Receive token to your issuing account. This reduces the circulating supply.
    2. Send the deposit back to the user's bank account.

    Hope this helps. But it can also be I'm misunderstanding the question.

        bkolobara you have understood this correctly , so the question here does sending tokens to issuing account reduce total supply? (not the circulating supply) .. i am familiar to burn in ERC20 tokens where the total supply is reduced
        in stable coin we have to make sure that total supply (and not the circulating supply) = deposit collected from users

        so i was wandering how do other stable coins based on stellar work?

            Vijayta By sending them to the issuing account they disappear. You should try it out first on the test network, just to make sure it behaves in the way you expect it to.

                bkolobara thanks , will surely try it and check.
                Is there any way where i find total supply of any asset?

                    23 days later

                    thanks , will check soon and update here so that others can know the solution

                    15 days later

                    In Stellar Expert the supply/accounts graph shows supply in two decimals if you hover on the plotted graph. So the whole number on top seems like a round off on the UI for display purpose.

                      8 days later