Light it up 🔥 Details behind the MORPH Token burn June 8th: Less supply equals better valuation.
crytpo·@frimmcoin·
0.000 HBDLight it up 🔥 Details behind the MORPH Token burn June 8th: Less supply equals better valuation.
With any token burn I'd expect a rise in the price as you eliminate supply. It's kind of the opposite of a stock split. What is a token burn? It’s standard practice for many companies that run a token sale to burn unused and unsold tokens. By burning tokens, we’re “evaporating” tokens from being purchased, exchanged, or sold — lowering the total supply of available MORPH tokens. Why are we burning tokens? After the conclusion of most token sales, tokens that have not been purchased are typically burned. Also, for most token sales, lowering a hard cap implies that unused tokens are also burned. Token burning helps maintain a healthy cryptocurrency, keeping the token supply low while balancing the value of each token. Token burning is also completed in fairness to early contributors and the community in general. What are the advantages? Less supply in tokens adds to the rarity of a new coin. How many tokens will be burned? Approximately 52 million MORPH tokens will be burned, which includes both unsold and unused tokens. When is the token burn date? The MORPH token burn date is scheduled for Friday, June 8th.