Dear Biconomy exchange users and $BIT token holders!
There was a second manual burning of the $BIT token in the amount of 20,100,000,000 $BIT tokens.
Here are the facts and figures behind $BIT Token second manual Burn:
- Total BIT burned: 20,100,000,000 $BIT
- Transaction ID (TXID) for $BIT burn: View Transaction - 1 , 2
- Burning occurred through partial buyback of $BIT Tokens from the market.
- The total amount of burned $BIT Tokens is now 26.90% - 269,055,805,643.68 $BIT
Congratulations to $BIT Token holders and our entire community on this amazing event!
1st Manual $BIT Burn Transaction
What You Need to Know:
There are three ways to burn the $BIT token.
1 Method. Manual burning, which takes place every quarter, is carried out by the method of full or partial buyback of $BIT tokens from the market. This is done by using 50 percent of the profits earned by the exchange.
Method 2. Deflationary model. This is the automatic burning of the $BIT Token, prescribed in its smart contract. This is the fastest and most efficient method of burning since any on-chain $BIT transaction is taxed at 6% and the entire amount is immediately burned.
Method 3. Additional burning from the profits.
After the launch of futures trading on the exchange, we also intend to direct 50% of the profits received to the additional burning of $BIT tokens.
This burn will be added to the manual quarterly burn.
These burning methods were created from the very beginning to ensure the deflation of the token and increase its useful utility properties, the stability of the development of the economic model of the BIT Token.
This means that holders of $BIT tokens will have not just a token in their hands, but will be able to participate in a full-fledged cryptocurrency market with a huge future and growth potential.
Thanks for your support!
Risk warning: Cryptocurrency investment is subject to high market risk. Please make your investments cautiously. Biconomy will make its best efforts to choose high-quality coins, but will not be responsible for your investment losses.