No burn
would you prefer that we burn our token or that we redistribute them to the community?
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would you prefer that we burn our token or that we redistribute them to the community?
Last updated
Was this helpful?
Burning tokens has been a common practice in new cryptocurrencies (especially in Yield farming optimizers) in order to temporarily raise the coin price by reducing the supply artificially. We did not implement a burn tax for two main reasons:
Burning makes whales larger. After burning, the amount of coins held by holders relative to the total supply becomes larger.
Burning is not needed to make a coin deflationary. A fixed token supply is inherently deflationary because of natural causes such as lost wallets, forgotten passwords, etc.
