Understand the burning process like a PRO👌⬇️
We are pleased to announce to you the first massive burning of ARI10 🔥
Hi, crypto geckos!
We are pleased to announce to you the first massive burning of ARI10 🔥
First, we will buy off tokens from the market. Then, in the middle of February, we will burn them to reduce the circulating supply. That’s how our token economy works.
But how many tokens will we burn?
Why would HODLers burn tokens?
And how long will the company be burning ARI10?
Keep reading!
What is Coin Burning?📝
Coin burning is the systematic process of permanently removing ARI10 from the market by sending tokens to a special burning address.
How does it work?⚙️
1) Ari10 company gains profits.
2) Each quarter, we summarize earnings for the past quarter.
3) Ari10 buys tokens from the market without announcing it publicly.
4) Ari10 sends money to the burning contract.
5) The whole process is repeated.
ARI10 Coin Burning🔥
How often is Ari10 burning tokens? 🍀
We burn tokens quarterly.
We will do our first official burn in February 2022. Tokens will always be burned for part of the previous quarter’s company profits.
How long (in years) will it take for the company to burn tokens?⌛
It’s difficult to calculate accurately at this point. The number of burned tokens depends on the company’s profits and the token price at the time of the event.
However, we can say that we will burn tokens until we burn 25% of the total supply.
What does the number of tokens burned in a given quarter depend on?📅
The number of tokens burned quarterly, as well as the speed of burning, depend on profits from all our products (bitcan.pl exchange, Cryptoterminals, Bitcoin Widget, Litpay & Litpay ID).
The higher the earnings in a given quarter, the more tokens we burn.
How many tokens will be burned?🔟
Eventually, we will burn 25% of the total supply, exactly 220 million ARI10.
How many tokens have we burned so far?⏱️
As an Ari10, we’ve burned over 5,6 MLN ARI10, worth over 263 000 USD with the current price of 0,047 USD.
However, our community burned over 5 000 ARI10 during the community burning events.
The current burning function🛡️
What is the purpose of burning? 🎯
The idea is to reduce the total supply and create a deflationary token model. By burning, we reduce the number of tokens in circulation and affect the law of supply and demand — the less of a given good in the market, the more people want it. Our goal is to generate profit for our investors.
What are the benefits of coin burning for HODLers?💵
There are fewer and fewer tokens for sale in the market, so the price fluctuates (the price should go up) and each HODLer can sell their tokens at higher valuations.
Why would HODLer burn tokens?❤️🔥
It is worth adding that we are not the only ones who can burn tokens. Our community can do the same thing.
We know that burning tokens is sending money to nowhere, but such behaviour contributes to the entire project’s success and raises the price globally.
Why burning tokens by HODLers might be a good idea?💡
1) By burning tokens, you teach people how to do it.
2) By burning tokens, you can have fun with other community members.
3) By burning tokens, you can get rewards.
4) By burning tokens, you show the strength of the community to the world.
5) By burning tokens, you show faith in the project.
In short: if a HODLer burns tokens, they don’t get any financial benefit from it. Therefore, we do not encourage anyone to do so.
If you want to — we are very grateful to you. However, it is best not to burn too many ARI10. Please do it for educational purposes and to have fun.
Where can you check burning statistics?🪐
Here you will find the burning address used by us & our community during past burning events.
Here you will the burning address which will be used by our company in future burning events.
Burning events🎫
We have had three burning events so far.
- Community Burning during the AMA session (8.12.2021, over 5 000 ARI10 burned)
- Ari10 Team Burning two days after the AMA session (10.12.2021, over 50 000 ARI10 burned)
- Christmas burning (24.12.2021, over 5 500 000 ARI10)
The fourth one (the huge one) is coming soon. We planned it for February, but the exact date is unknown🤫
Summary
Our deflationary coin model is working! Stay with us to feel more deflation in the future 😉
Follow our social media to be up to date!
