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$IRO - Burning

What does "burning a crypto" mean ?

"Burning a crypto" is a term that refers to the process of permanently removing a certain amount of cryptocurrency from circulation. This is typically done by sending the cryptocurrency to an address where it can no longer be accessed or spent by anyone, effectively reducing the total supply of that particular cryptocurrency. One common reason is to reduce the supply of a particular cryptocurrency in order to increase its value by making it more scarce.

Burning mechanisms

We have implemented several IRO burning mechanisms to help stabilize the value of our in-game utility token, IRO. These mechanisms serve as deflationary measures to counterbalance the inflationary nature of the token and maintain a healthy, sustainable in-game economy.
The IRO burning mechanisms in Orivium include:
  • Minting Unit / Gem
  • Fusing Unit / Gem
  • Creating Building
  • Upgrading Unit / Building
  • Attacking other players
  • Trading with fellow players
  • and many others...