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Token Burn

Mr. Fomo
Last updated: February 6, 2025 01:37
Mr. Fomo
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Token burn involves the deliberate destruction of a portion of a cryptocurrency’s tokens to reduce the total supply. This mechanism is used to create scarcity and potentially increase the value of the remaining tokens.

Burning tokens is often executed through smart contracts that send tokens to an irrecoverable address, ensuring they cannot be used again.

This strategy is a key aspect of tokenomics and is employed by various projects to manage inflation and reward long-term holders.

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