Token standard fee

Developers
1

I just saw some token have fee mechanism. It shown me the transaction fee is amount of number when there is a transaction is made.

My question is what wallet the fee will go?

I found in this README about ICRC-1 token and don’t have any sentence about which wallet will collect the fee.

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2

The fee will go to the fee collector if set, or will be burned by default.

3

What is burn definition?

It will reduce the total token or just send to dead wallet aaaaa-aa?

4

Burn means reducing the total tokens not sent to the dead wallet.

5

There are two different kinds of burns. The standard burn is sending a transaction to the ICRC1 minting account. This destroys the tokens and reduces total supply.

Another kind of burn is sending tokens to an address that nobody can possibly control. There’s a way to deploy black hole canisters that can be provably not controlled by anyone. This would be another kind of burn, but wouldn’t reduce the total supply. This choice does likely have some fat tail risk that the NNS could redeploy the canister in the future and gain access to funds sent there(for good or bad reasons).

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