TokenBurnMechanism
Burns a percentage of tokens during each transaction.
Description
Token Burn Mechanism
The Token Burn Mechanism is a deflationary process where a percentage of tokens are permanently removed from circulation during each transaction. This mechanism reduces the total supply over time, creating scarcity and potentially increasing the value of the remaining tokens.
How It Works
đ„ Automatic Burn: A fixed percentage of tokens is burned with every transfer.
đ Supply Reduction: As tokens are removed from circulation, the total supply decreases.
đ Decentralized & Immutable: The burn mechanism is encoded in the smart contract and cannot be altered.
đ Potential Value Increase: Reduced supply can lead to higher demand and increased token value.
This mechanism is commonly used in cryptocurrencies to enhance tokenomics, prevent inflation, and create a sustainable ecosystem.
Progress During Hackathon
50
Tech Stack
Fundraising Status
0