Token Burning refers to the act of sending a cryptocurrency into an unrecoverable ‘black hole’ wallet, effectively taking tokens out of circulation. The main objective is to create scarcity by driving up the value of the tokens.
LUNC – the Terra Luna Classic fork and BNB (BNB) are engaging in token burning, while decentralised exchange TMS Network (TMSN) is making waves in its early pre-sale phase.
TMS Network (TMSN) – Burning tokens and more
TMS Network (TMSN) is a new decentralised exchange built on the Ethereum blockchain. As a fully decentralised exchange, TMS Network (TMSN) offers traders many interesting options, such as solving problems with price inconsistency, reducing trading fees and combating price manipulation.
There are incentives for those who hold TMS Network (TMSN) tokens. Token holders are rewarded with commissions on global trading. TMS Network (TMSN) token holders can also vote on governance issues and have access to premium services such as customer support and research.
Token burning will be a regular event on TMS Network (TMSN), to keep supply low and thus drive up the price.
Having already secured $2.5 million. TMS Network (TMSN) is now available to the investor at $0.025. Savvy investors would do well to add TMS Network (TMSN) to their cryptocurrency portfolios.
Terra Luna Classic (LUNC) – Burning of coins at one dollar each
Terra Luna (LUNC) is a secondary coin that powers the Terra blockchain. It is considered the most versatile stablecoin in the cryptocurrency world, as it has values pegged to all major currencies, including the US dollar, British pound, Japanese yen and, interestingly, IMF Special Drawing Rights. Created in May 2022, the original Terra was ‘forked’ and renamed Terra Luna Classic, and the price devalued to fractions of a cent.
Terra Luna Classic (LUNC) adherents believe that there is a strong use case for the coin, but that Terra Luna Classic (LUNC) is undervalued. In an attempt to recover the value of Terra Luna Classic (LUNC), over 12 billion Terra Luna Classic (LUNC) coins have been burned, with more to come.
Given its extremely low market price, Terra Luna Classic (LUNC) has a low barrier to entry and millions of Terra Luna Classic (LUNC) can be purchased with very little capital injection. Given the burning rate of Terra Luna Classic (LUNC) – which supporters want to push up to 50 per cent – the value of Terra Luna Classic (LUNC) is set to increase dramatically.
The stated goal is to bring Terra Luna Classic (LUNC) to a price of $1, a feat that will make investors and banks smile.
BNB (BNB) – automatic burning to avoid market saturation
BNB (BNB), originally ‘Build’n’Build’ and later ‘Binance Coin’, is the currency that enables transactions on the BNB chain (BNB) (formerly known as Binance Smart Chain). Since its inception, BNB (BNB) has performed well and is now the fifth largest coin by market capitalisation.
When BNB (BNB) was created, a commitment was made to keep the supply in circulation at 100 million coins. This process has been automated and BNB (BNB) issues now take place through a quarterly self-burn. The 22nd burn on 17 January saw the burning of just over 2 million BNB (BNB) tokens, causing an immediate drop in the BNB (BNB) price, but has since recovered over 10%.
Token burning is an odd practice for those unfamiliar with the cryptosphere, but it is a well-known technique to keep the value of a coin high.
Presale: https://presale.tmsnetwork.io
Whitepaper: https://tmsnetwork.io/whitepaper.pdf
Website: https://tmsnetwork.io
Telegram: https://t.me/tmsnetworkio
Discord: https://discord.gg/njA95e7au6
Twitter: https://twitter.com/tmsnetworkio
