JET Token Burning Event Announced. Ready to Burn, Ready to Moon!
- Jet token is currently in Presale, GameJet Presale is attracting new users along with the potential buyers.
- We have a piece of good news about the JET token that it has successfully sold out 23% out of The total allotted token supply and is still going in demand.
- GameJet is holding the first half burning session of Jet token on 29 th September.
- Also, remaining 10% of the supply will be burnt after the closure of token presale and listing.
- The JET token is expected to pump 100X after the burning and listing.
There are many cryptocurrency projects efficiently embracing an approach familiar as token burning to regulate the token supply. This may conjure up a persona of smoke and matches, however, no tokens are actually burnt in this procedure. They are present as unusable in the future.
The cryptocurrency and blockchain-based projects follow a token burning strategy to influence the price of a token/coin/asset in the market. They achieve this by permanently eliminating some tokens from circulation. Tough some high-grade digital assets like Bitcoin and Ethereum don’t follow token burning programs, on other hand, many strong Altcoins use it.
GameJet has a target of burning 20% JET tokens out of a 1 billion token supply. The burning for Jet token respectively for the first half 10% will be held on 29 th September. After the closure of presale and listing
of tokens, we will commence with remaining 10% token burn event to eventually burn all total 20% tokens.
Every firm has two options when it comes to burning tokens: it can either buy existing tokens from the market or it can pick any existing currency out of circulation. Some startup projects burn tokens as a one-off event while the rest hold quarterly burns. The decision to choose any of the processes of token
burns ultimately depends on their aim to achieve.
Why Burning JET Tokens?
There are diverse reasons to burn cryptocurrency assets. Token burns straight away influence the dynamics of supply and demand. We can consider the most remarkable purpose to burn tokens is to generate a deflationary effect. By reducing the overall number of tokens relatively in circulation, these
programs make tokens limited and uplift the valuation of token assets. In short, token burning is a deflationary mechanism that is normally meant to affect the token price with the laws of supply and demand. If the demand stays constant or escalates, the price will eventually go up. In case of demand dwindles, the burning won’t create much effect.
Some of the projects prefer to periodically burn tokens to incentivizing their holder and to keep them while becoming more valuable. However, as it usually affects the price, many trading projects are actively creating valid and trusted use cases for their tokens with additional benefits for their holders.
Some of the advantages include the ability to pay for assets/services online in their exchange token and advance access to promising assets.
We believe that token burning is extremely beneficial for holders and projects a like. This will not only increase the price value of digital asset but also reduce inflation and encourage users to hold. Though the Proof of Burn mechanism is still considered problematic, we are looking forward to our successful completion of a presale, token listing and token burn event.