πŸ”₯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 πŸ”₯)

  • 20% from the SquirrelS royalties will be used to buy and burn πŸ”₯ $NUTS from the DEX

  • 50% of the $NUTS tokens collected from the minting events will be burned πŸ”₯

  • 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 πŸ”₯

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. πŸ’Ή 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

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