đŸ”Ĩ$ORI - 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 $ORI Burning mechanisms this create scarcity for the remaining tokens. This can lead to increased demand and potentially higher value for the token over time. This ensures that the token remains useful and valuable for its intended purposes. Burning $ORI can align the interests of token holders, developers, and the platform itself. By managing the token supply, the project demonstrates a commitment to maintaining a sustainable ecosystem that benefits all stakeholders.

The ORI burning mechanisms in Orivium include:

  • OriDex Marketplace

  • NFT Minting

  • Burning events

  • And many others...

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