Limiting GHX supply — first-ever Token Burn!
Token burning is what crypto communities love. You might have already seen burns of BNB, XRP, or USDT, but GHX burn is something new, isn’t it? Well, we are constantly developing and trying to assure our investors that GamerHash is a real deal and the team of founders is fully committed to developing the project.
Buurn GHX, buuurn!
Finally, it’s the time you’ve been waiting for! On the 29th of December GamerHash will burn 12 000 000 GHX! The tokens come from various pools, mostly from the GamerHash TEAM pool — in details from Founders ‘pockets’. The process will consist of several rounds of token burning with a monthly interval. Dates of another 6 rounds and amount of burned supply are planned for:
2. 10.01.2022–10M GHX
3. 08.02.2022–10m GHX
4. 10.03.2022–10m GHX
5. 11.04.2022–10m GHX
6. 09.05.2022–10m GHX
7. 06.06.2022–10m GHX
We are going to burn 72 000 000 GHX in total which is 8,1% of the total supply. It caused a decrease in the total amount of GHX from 880 000 000 to 808 000 000.
Okay, but why do we want to limit our native tokens? Well, there are many advantages of token burn. We want to give a clear signal that GamerHash has long-term plans and our team takes the project seriously. The token burn is also encouraging for new investors to see what GHX is really about. Current investors will be satisfied as well, which will make them willing to stay with GamerHash. Isn’t it enough?
How does the burn process work?
The burning process is quite simple and there are two ways to proceed. However, GamerHash will use the way, called eater address. Sounds spooky? If tokens had feelings they would probably be terrified of being sent to the “Black Hole”. So what exactly is the eater address? Simply put, it is a public address which anyone can view but no one can neither withdraw assets from nor use them. Tokens that have been sent to this address are “burned”. It doesn’t mean they are dissolved but they are removed from the total supply.
The whole process is transparent and every member of the community can check the details here. They are recorded on the blockchain’s transparent ledger. This way of burning is simple, efficient, and visible for anybody who wants to check if the burning was performed. The process will be respected by Coingecko and CoinMarketCall and the total supply will be updated in the details.
We are looking forward to seeing what the token burn will bring to GamerHash. New investors? GHX’s price change? Stay with us and keep tracking the news! More tokens’ doomsdays are coming!
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