BLES Token Burn Mechanisms Now Live
We are pleased to announce that our token burning mechanisms is now live. Two distinct smart contract executed token-burn mechanisms are now in place to curb inflationary dynamics related to $BLES.
We have deployed a set of deflationary burn mechanisms to help maintain a steady value for the token. Both burn mechanisms will proceed simultaneously until a maximum of 50% of the total BLES ever minted are burned.
— Anita Angelica Moore, CEO
Token Mining
Our dApp now features smart-contract-controlled, mining and burning mechanisms. With respect to mining, opening Blind Boxes mines $BLES for buyers. More specifically, when a user opens a box they get an NFT plus an option to claim $BLES.
Mining-Triggered Burn
To counteract inflation and slow the token’s velocity, a mining triggered burn mechanism is in place.
- If the user chooses to claim $BLES within 7 days, 50% of the mined $BLES will automatically be burned
- If the user claims $BLES on day 8 or later, they will receive 100% of the $BLES
Buyback Burn
Each day, 50% of the revenue earned by the platform (which is 5% of the sold NFT amount) will be used to buy $BLES from exchanges.
- The sum of BLES purchased with this amount will be burned
- The amount burned will vary per day
- Fees are only collected when a collection sells out.
For questions, feedback, or suggestions about $BLES join the conversation 24/7 in our official Telegram channels:
BLES — Official Trading Channel
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About Blind Boxes
Blind Boxes is a gamified curation platform and launchpad for NFTs (non-fungible tokens). This highly scalable dApp enables brands and creators to diversify their revenue streams, increase the liquidity of their creative assets, and become leaders in decentralized global economies while engaging fans and buyers to discover and collect rare, limited edition NFTs.
Via the Blind Boxes Marketplace, buyers experience the thrill of time-released curated NFT collections. Collectors virtually unbox exclusive items, curated by tastemakers across art, music, sports, and entertainment. Curation is at the core of our value proposition. The platform offers a commission structure that incentivizes independent contributors to curate blind box collections that feature top-tier talent, emerging artists, and designers from around the world.
Learn more: Website | Telegram | $BLES Official Trading Group | Twitter | Discord | Instagram | Github | LinkedIn
