Burn
Tue, Apr 15The act of burning coins or tokens refers to the permanent removal of that digital asset from circulation, which effectively decreases the total supply of the asset. It can be likened to destroying assets that can never be recovered.
Burning is executed by transferring the coin or token to a burn wallet or address, from which the coin or token cannot be retrieved.
The rationale behind burning coins or tokens is that the value of the remaining supply is expected to rise due to the reduction in total supply, making the asset more scarce.
Some projects even incorporate an automatic burning schedule into their code. The intention here is to ensure that the future supply of a currency will actually decrease or remain stable, alleviating concerns about inflationary impacts on the asset's price.
This approach tends to please investors and holders alike!
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