🔥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.
Burning Mechanisms:
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 🔥
80% of the $NUTS tokens collected from the ElrondBet Raffles will be burned monthly
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.
Burn History
| Date | Burned | Tx Link |
|---|---|---|
01.02.2023 | 1,073,134.30 | |
01.03.2023 | 101,850.54 | |
01.04.2023 | 31,417.50 | |
11.05.2023 | 5,040,889.20 | |
30.08.2023 | 1,796,995.65 |
Last updated