Let them BURN!
By the law of supply and demand, if an asset decreases in quantity, its intrinsic value per unit increases scarcity and a finite, deflating supply are therefore bullish catalysts for a token price.
- ElrondBet.net fees ( 2.5% of each NUTS bet is being burned 🔥)
- 20% from the SquirrelS royalties will be used to buy and burn 🔥 $NUTS from the DEX
- 50% of the $NUTS tokens collected from the minting events will be burned 🔥
- The NUTS Treasury will buy $NUTS from the market at random times and burn it 🔥
More burning mechanisms will be adopted as we progress on this adventure.
Token burning is a strategy followed by cryptocurrency projects to influence the price of a token, or coin, in the market. 💹 This is done by permanently removing some tokens from circulation.