In recent times, cryptocurrencies that burn tokens have been very popular and a number of well known blockchain projects have destroyed large sums of digital assets. While a number of crypto projects have different burn schemes, the overall effect is usually the same, as destroying tokens reduces the circulating supply.
Blockchain Projects Burn Tokens for Specific Benefits and Objectives
Burning tokens has been a popular trend and articles often highlight specific projects like Ethereum, Terra, Shiba Inu, and many more that have destroyed large sums of native tokens.
$SHIB burn portal is a huge success!👺🔥
— Shiba Inu to $1 (@ShibInform) April 28, 2022
Six days ago, Bitcoin.com News reported on the Shiba Inu (SHIB) developers launching a burn portal, which allows shiba inu holders to burn their stash of SHIB. In that particular case, SHIB burners are rewarded for destroying their tokens. SHIB currently has a burn rate of around 180.18% during the past 24 hours.
1/ The on-chai
We współpracy z: https://news.bitcoin.com/theres-an-insatiable-urge-to-burn-crypto-a-look-at-why-projects-burn-tokens-and-the-benefits/
