Playermon has burned almost 25% of the PYM Circulating supply!
Playermon has burned almost 25% of the PYM Circulating supply! 🚀
Playermon has promised greatness of the project, and we aim to deliver!
What is Token Burning?
It is the process whereby the tokens of a certain Project, or in this case, a GameFi such as Playermon, intentionally, and irreversibly sends the tokens to an unusable wallet which cannot be retrieved or recovered.
Because of this, the amount of tokens in circulation will be reduced.
While the Market Capitalization for each token is the same, the amount of tokens in circulation is now less, which means the expected price per token has gone up in value proportionally.
This makes the token more scarce because there is now lesser supply of PYM tokens, and as we may all know, scarcity often equates to a greater price!
Hence, we believe that the move will help the token to rise in value.
How much did we burn?
As of writing, we have already burned almost 25% equivalent of the Circulating supply. The total burning is equivalent to 7,200,000 PYM tokens!
That’s one-fourth of the current circulating supply of 28.7 Million PYM tokens!
Wow! 🔥
Not just that, but the burning will not be hidden. Rather, the Team intends to make it public and allow everyone to inspect it anytime 🔎
Where can we see the burning?
The burning has been made transparent by our Developers to allow everyone to keep track of the progress of the burning.
In fact, anyone can head over to our Official Website, Log in, then go to PYM Tokenomics at the left-hand side, and see the breakdown.
At the lower portion of the screen, you will see the Burn item line along with the burn address where it is being sent.
The line for Burned tokens — together with the address
We also have a proof of burn:
In all of these, we continue to aspire the achievement of whatever will benefit our Community! The token burning mechanism is but one way for us to help the community in raising the value of PYM and raise the confidence that your welfare, is what we have in mind.
Please stay tuned for more information!
Our links:
Website | Whitepaper | Discord | Twitter | HIVE | Medium
