HDAO Launches  New Burning Mechanism To Burn 50% Of Its Tokens

Time Stamp: May 21, 2022 8:26 AM
Source Node: 1319862

burn

    • HDAO (HKD.com DAO) has announced that it is rolling out a new burning mechanism.
    • The main objective of the burn is to reduce the number of tokens in circulation which will in turn introduce scarcity to the market.
    • It is believed that the inflational nature of HDAO might be strengthened under the implementation of the burning mechanism.

The foundation of HDAO (HKD.com DAO) has announced that it is rolling out a new burning mechanism aiming to destroy 50% of the total amount of HDAO tokens.

The burning mechanism was introduced following unanimous approval from stakeholders with the hope to have a better development by raising its values in the future. The burn will reduce the number of tokens from 10 billion to 5 billion.

The main objective of the burn is to reduce the number of tokens in circulation which will in turn introduce scarcity to the market. All the burnt tokens will be destroyed and the whole process and burn record can be viewed on the chain.

All the burning records can be viewed on this address: 0xa6dc25851c18db97d4af05dbea56ceaaf6bda0ee

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