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Deflationary currency

Deflationary currency, Bitcoin

Token burning [Source: Bitcoinik]

Bitcoin, which shooting to the moon, is categorized as a deflationary currency because the amount of issuance is set at 21 million, and the amount of body is designed to decrease by 50% every 210,000 blocks, so that the value of the currency is continuously increased.

If inflation is linked to ‘consumption’ as the value of money falls due to an increase in the amount of money, deflation is linked to ‘savings’ as the value of money increases due to a decrease in the amount of money.

Although more and more places are introducing bitcoin as a payment method, they are not going to buy bread and coffee with coins that can increase their value in the future.

Bitcoin, which has a high future value with a limited amount of issuance, is not used for ‘consumption’ but ‘saved’, and the currency itself is also highly valued for investment.

Introducing Apple Pay Bitcoin [Source: CoinGenius]

Of course, there are still many eyes that see this as a speculative market. Why should I buy money that I won’t use? In order to disprove this, there is also a reason to create an atmosphere so that bitcoin payments are possible.

Some companies also believe that receiving bitcoins rather than cash can benefit more from the uptrend.

Tesla accepts Bitcoin payment method [Source: COIN98]

There are many variables in the market and the future is unpredictable, but it is clear that many institutions and individuals are investing in bitcoin anyway.

There are many variables in the market and the future is unpredictable, but it is clear that many institutions and individuals are investing in bitcoin anyway.

Deflation strategy, Token Burn

As most of the coins are issued with a fixed amount like Bitcoin, according to the logic, coins will have a tremendous future value in hyper deflation.

Additionally, coins continue to reduce the maximum quantity of goods through coin incineration, thus defending against potential inflation where the face value of the coin drops. The method of incineration is a method of destroying the cryptographic keys of assets so that they cannot be recovered, a method of sending the token to an Eater address so that it can never be used, and a specific smart contract that removes the amount of incineration according to the contract. Use one of the ways you use the feature.

Binance BNB token is also a coin with automatic incineration function, as it corresponds to the third time method.

BNB burned for the 14th time [Source: Binance]

Burning of TRIX profits at ENFTEE.COM

As part of the deflation strategy, TRIX was also burned for TRIX profits from ENFTEE.COM, an NFT issuing site.

This incineration is all of the revenue generated from the ‘Rock & Robot’ edition by Rosa Fantasy (Kim Hong-mo), including the recently sold out rookie digital writer series.

One month after the launch of the platform, the entire profit for the month was burned on March 16.

Triumph X token burn

With Deflation strategy Token Value Formation Bust be Accompanied

Of course, token burning cannot protect against inflation of all virtual assets. If there is no inherent value of the token itself, it has no effect on the stability of the price.

It is more difficult to gauge the ‘value of tokens’ in the cryptocurrency market where there is complexity in the market when it comes to supply and demand alone, and anyone can create new tokens.

TriumphX does not defend against inflation simply by incineration.

We are ready to quickly enter the ranks of the main players by developing an exchange that can trade P2P from the issuance of NFTs to target the NFT market facing 600 billion won in 2021.

TriumphX Projects (Beta Open in February)

NFT issuance & purchase is available. Sold out immediately after the Rookie Artist Series launch (targeted to community participants). NFT issuance in partnership with Kakao Klip → NFT in Clip Wallet will be exposed (Beta Open in early April)

Globally the largest cross-chain NFT P2P exchange upgraded from Opensea. Partnership with Kakao Klaytn developer, various chain-based NFT cross transactions is possible.

In addition, we are working to build industry infrastructure by operating various NFT-related global communities and participating in NFT awards.

We will be a sincere team that implements an appropriate deflation strategy while increasing the value of the token itself, so stay tuned!

Don’t miss out on our next ENFTEEs!

Website : ENFTEE

Twitter : ENFTEE Twitter

Instagram : ENFTEE Instagram

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Trix Admin

TriumphX; a decentralised peer-to-peer (P2P) exchange trading platform designed and built by gamers, for gamers.