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The Bancor Vortex, launched early last year, collects a protocol-wide administration fee from liquidity providers. In version 2, the vortex collected fees in various tokens, which were then exchanged for BNT. The BNT was then used to buy and burn vBNT, ultimately reducing the circulating supply of BNT. Source
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The fall of Terra (LUNA) shook the entire crypto market. However, the project has no plans to stay down as the project secured backing from crypto exchanges to help it rebuild. In an announcement Thursday, Terra provided details about the airdrop of the new native token within its new blockchain dubbed
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The burning rate of Ethereum (ETH) has spiked to new all-time high (ATH) levels following the heavily anticipated sale of tokenized land plots in Yuga Labs’ upcoming Metaverse project the “Otherside.”Yuga Labs, the creators of the Bored Ape Yacht Club (BAYC) sold 55,000 virtual land NFTs dubbed “Otherdeeds” on May
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From 2021 till now, the metaverse concept has increasingly gained popularity and evidently has no plans of slowing down. Indeed, this popularity can be attributed to different metaverse platforms making giant strides and driving adoption. One of them is “Over the reality,” a fast-growing metaverse platform merging physical and virtual reality
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Popular memecoin project Shiba Inu (SHIB) has launched a SHIB Burn Portal to decrease token supply and enable users to earn passive rewards while doing so.The Shiba Inu team stated on the portal website that it was created explicitly to increase scarcity of SHIB and make it "one of the
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Olive Allen, a Russian national and artist who has lived in the United States for more than 11 years, has burned her mother country’s passport in the hopes of raising awareness and funds related to the military conflict in Ukraine. Speaking to Cryptox on Friday, Allen described herself as “a child
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sponsored OVR launched its new Token Burning Program on 1 November to make its own tokens more rare and valuable. The results of this first month of November saw a total of 246 thousand OVR burned. OVR and the Numbers From the Token Burning Program’s First Month OVR’s updated token economics
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Developers of the Binance Smart Chain, the Binance-backed decentralized blockchain platform, have proposed applying a mechanism to burn BNB tokens based on the utilization of the network. According to the proposal, this would benefit both validators and holders due to the increase in value that the token would experience thanks
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Amid the ongoing rally of Binance’s native token, Binance Coin (BNB), the developers of Binance Smart Chain (BSC) have proposed more measures to maintain the token’s deflationary model and improve its intrinsic value.According to a new Binance Evolution Protocol, BEP-95, BSC developers are considering introducing a real-time burning mechanism for
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This article originally appeared in Valid Points, CoinDesk’s weekly newsletter breaking down Ethereum 2.0 and its sweeping impact on crypto markets. Subscribe to Valid Points here.October marks the beginning of the fourth quarter and perhaps an end to the crypto market’s fifth annual September Dump.More importantly, we are excited to
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