🔥Burn Event
Removing 98% of $NEUTRO supply from circulation
Last updated
Removing 98% of $NEUTRO supply from circulation
Last updated
Burn or burning refers to the permanent removal of a certain amount of tokens or coins from circulation. This is typically done to reduce the total supply of a cryptocurrency, which can have various effects such as increasing the value of the remaining tokens by making them scarcer, or improving the tokenomics of the project by creating deflationary pressure.
Burning can be achieved in different ways. For example, some projects may burn tokens by sending them to an address with no known private key, effectively locking them away forever. Other projects may burn tokens by sending them to an address that is known to be unspendable or by using smart contracts to burn them. Neutroswap opt for the former method.
We burned 98% of $NEUTRO max supply (980,000,000 $NEUTRO) by sending them to 0x000000000000000000000000000000000000dEaD.
Post-burn max supply: 20,000,000 $NEUTRO
By burning 98% of the $NEUTRO token supply, we're reducing the overall supply and increasing the token's scarcity. This creates deflationary pressure on the token's value, which is great news for our current $NEUTRO holders.
By decreasing the supply of $NEUTRO, we're effectively increasing the value of each remaining token. This means that those who continue to hold $NEUTRO will see a benefit from this move.
It's worth noting that this supply burn is also correlated to the emission adjustments we announced a few days ago. We're constantly monitoring market conditions and making adjustments to ensure that our tokenomics remain balanced and fair for all users.
