THE BURN TOKEN INITIATIVE
DEFLATIONARY TOKEN
Blockchain technology for decades has and still is experiencing various forms of transformation and innovations. The creation of tokens and different blockchain technology as a means of transacting has seen not too much, but many stages, from bitcoin to altcoins to stablecoins and now the recent development in blockchain technology known as 'deflationary tokens'.
A coin where a particular percentage of token is burned in the process of transacting, hence reducing the circulating supply of that coin.
In the past few months, more than 30 such tokens has been created, and majority of which have no use case whatsoever. Many tokens with these attributes have found it difficult to maintain their survival, thus making it a threat to investors. It can be said that deflationary tokens are yet to receive the attention needed to compete with other forms of blockchain technology basically because most of them have nothing really to offer apart from pumping and dumping price, making it a huge risk to investors.
After the creation of these tokens, majority of them opted with free airdrop and bounty campaigns in order to attract larger communities. However, the community attracted did little or nothing to the development of these tokens, other than waiting for price pump and subsequent dumping the token rewarded to them, which affects liquidity and market volume, resulting in a rapid fall in the price of these tokens.
One can only imagine if there are any deflationary tokens worthy of an investors' risk. One could argue that 99% of all deflationary tokens out there exist with no use case and most ended up being a scam project, however, within the first and second quarter of 2019, a few deflationary tokens began to emerge promising investors an opportunity to experience the true nature of what a deflationary token should and could ultimately be!
THE BURN TOKEN
A project 100% driven by the community!
The Burn Token is a self-annihilating digital asset, backed by ETH with each transaction of BURN, 1% get BURNED!
The Burn Token, a community driven project launched on June 21st, and came live on Uniswap exchange on the 25th of June marking the beginning of the first DEX trade with $0.001 as its starting price.
BURN never had an airdrop! Every BURN was traded from the start using a fixed price of $0.0011494 utilizing the 0x protocol until $300 was raised. At that point BURN was added to Uniswap, and solely allowed the community to buy/sell BURN and effectively set the price. Currently BURN is trading at $0.01 with more than 100 ETH already traded.
THE BURN TOKEN EARNDROP
As opposed to the famous free airdrops, BURN wants a community which will actively contributed to the liquidity of the token and support BURN's value. BURN initiated The Earn-Drop Programme, an initiative that ensures the community actively participate, contribute to the development of BURN and attract worthly investors.
To add liquidity, you just deposit an equivalent value of ETH and BURN into Uniswap's BURN/ETH exchange contract.
Until investors decide to remove their liquidity, which can be done at anytime, a proportion of 0.3% fee on any trades made between pair of BURN & ETH is earned. The same amount of BURN that is destroyed is contributed to addresses on the liquidity pool on daily basis. This methods ensures the longevity of BURN and at the same time incentivise the community members participating in the project.
BURN can be traded on Uniswap exchange via Enjin Mobile Wallet and Trust Mobile wallet. BURN is currently working on listing on other exchanges as well as CoinMarketCap. BURN has already been listed on Coingecko.
THE BURN TOKEN ON UNISWAP EXCHANGE
An Ethereum-based protocol designed to facilitate automatic digital asset exchange between ETH and ERC20 tokens. Using enjin, trust or metamask wallet, you can directly trade BURN on Uniswap exchange, an exchange that is not built on orderbooks, rather allows BURN token holder to directly trade BURN for ETH. BURN token is backed by ETH, therefore, a buy/sell order book is not needed, this secure and guaranteed the stability of BURN price, each time BURN is purchased. This makes it a little harder for any investor to dump BURN because the price is fixed. This prevents price manipulation. In fact BURN price is rarely affected by the general market fall. Using the Uniswap exchange, dollar cost averaging can be exercised by adding to the pool and in turn be rewarded with commission on all BURN trades. This makes a perfect definition of a "Deflationary Token" compared to rest of the deflationary tokens out there with no security.
THE BURN TOKEN AND THE FUTURE
To guarantee the security and transparency of The Burn Token, it had its smart contract code audited, and verified by Callisto Network, The first and only deflationary token to have their smart contract verified. Currently, the Burn token is in the process of being listed on blockfolio. Plan is already in place for listing on different major exchanges as well as other coin metric platforms, such as CoinMarketCap, etc.
Burn token does intend to take the 'Deflationary Token' to a whole new level with a lot of announcements to come and development still in progress.
"Our mission is to introduce a deflationary digital asset that will serve as a store of value, due to scarcity as the total supply will fall with each and every transaction. As well as the added benefit in earning Ethereum on every transaction made by BURN."
THE BURN TOKEN (LINKS)
DEFLATIONARY TOKEN
Blockchain technology for decades has and still is experiencing various forms of transformation and innovations. The creation of tokens and different blockchain technology as a means of transacting has seen not too much, but many stages, from bitcoin to altcoins to stablecoins and now the recent development in blockchain technology known as 'deflationary tokens'.
A coin where a particular percentage of token is burned in the process of transacting, hence reducing the circulating supply of that coin.
In the past few months, more than 30 such tokens has been created, and majority of which have no use case whatsoever. Many tokens with these attributes have found it difficult to maintain their survival, thus making it a threat to investors. It can be said that deflationary tokens are yet to receive the attention needed to compete with other forms of blockchain technology basically because most of them have nothing really to offer apart from pumping and dumping price, making it a huge risk to investors.
After the creation of these tokens, majority of them opted with free airdrop and bounty campaigns in order to attract larger communities. However, the community attracted did little or nothing to the development of these tokens, other than waiting for price pump and subsequent dumping the token rewarded to them, which affects liquidity and market volume, resulting in a rapid fall in the price of these tokens.
One can only imagine if there are any deflationary tokens worthy of an investors' risk. One could argue that 99% of all deflationary tokens out there exist with no use case and most ended up being a scam project, however, within the first and second quarter of 2019, a few deflationary tokens began to emerge promising investors an opportunity to experience the true nature of what a deflationary token should and could ultimately be!
THE BURN TOKEN
A project 100% driven by the community!
The Burn Token is a self-annihilating digital asset, backed by ETH with each transaction of BURN, 1% get BURNED!
The Burn Token, a community driven project launched on June 21st, and came live on Uniswap exchange on the 25th of June marking the beginning of the first DEX trade with $0.001 as its starting price.
BURN never had an airdrop! Every BURN was traded from the start using a fixed price of $0.0011494 utilizing the 0x protocol until $300 was raised. At that point BURN was added to Uniswap, and solely allowed the community to buy/sell BURN and effectively set the price. Currently BURN is trading at $0.01 with more than 100 ETH already traded.
THE BURN TOKEN EARNDROP
As opposed to the famous free airdrops, BURN wants a community which will actively contributed to the liquidity of the token and support BURN's value. BURN initiated The Earn-Drop Programme, an initiative that ensures the community actively participate, contribute to the development of BURN and attract worthly investors.
To add liquidity, you just deposit an equivalent value of ETH and BURN into Uniswap's BURN/ETH exchange contract.
Until investors decide to remove their liquidity, which can be done at anytime, a proportion of 0.3% fee on any trades made between pair of BURN & ETH is earned. The same amount of BURN that is destroyed is contributed to addresses on the liquidity pool on daily basis. This methods ensures the longevity of BURN and at the same time incentivise the community members participating in the project.
BURN can be traded on Uniswap exchange via Enjin Mobile Wallet and Trust Mobile wallet. BURN is currently working on listing on other exchanges as well as CoinMarketCap. BURN has already been listed on Coingecko.
THE BURN TOKEN ON UNISWAP EXCHANGE
An Ethereum-based protocol designed to facilitate automatic digital asset exchange between ETH and ERC20 tokens. Using enjin, trust or metamask wallet, you can directly trade BURN on Uniswap exchange, an exchange that is not built on orderbooks, rather allows BURN token holder to directly trade BURN for ETH. BURN token is backed by ETH, therefore, a buy/sell order book is not needed, this secure and guaranteed the stability of BURN price, each time BURN is purchased. This makes it a little harder for any investor to dump BURN because the price is fixed. This prevents price manipulation. In fact BURN price is rarely affected by the general market fall. Using the Uniswap exchange, dollar cost averaging can be exercised by adding to the pool and in turn be rewarded with commission on all BURN trades. This makes a perfect definition of a "Deflationary Token" compared to rest of the deflationary tokens out there with no security.
THE BURN TOKEN AND THE FUTURE
To guarantee the security and transparency of The Burn Token, it had its smart contract code audited, and verified by Callisto Network, The first and only deflationary token to have their smart contract verified. Currently, the Burn token is in the process of being listed on blockfolio. Plan is already in place for listing on different major exchanges as well as other coin metric platforms, such as CoinMarketCap, etc.
Burn token does intend to take the 'Deflationary Token' to a whole new level with a lot of announcements to come and development still in progress.
"Our mission is to introduce a deflationary digital asset that will serve as a store of value, due to scarcity as the total supply will fall with each and every transaction. As well as the added benefit in earning Ethereum on every transaction made by BURN."
THE BURN TOKEN (LINKS)
- Websites: https://theburntoken.com
