What is token burn?
Token burn is the process of permanently removing a certain number of cryptocurrencies from circulation, reducing the total supply.
When you burn a coin, you reduce the total supply of coins in circulation. And according to the law of supply and demand, a decrease in the total supply of a coin should theoretically increase its value as long as there is sufficient future demand for the coin.
$Hera & $Hegem burning events are scheduled to take place monthly on total revenue. The number of tokens burned is based on the number of transactions performed on the exchange in a month period. So, after each month, Hero Arena will burn Token according to the overall trading volume.
However, a large number of users still do not understand how cryptocurrencies are burned. Therefore, this article is intended to provide information about the burn feature and the hero arena token burning events that take place every month.
Why do we decide to burn Token?
When the developers/miners burn the coins, the number of coins available in the digital currency market reduces. As a result, the price of the coin will increase. It would bring benefits not only for creators but also for users.
The main benefits of this feature:
- Special campaign for users just only in Hero Arena.
- Balance in-game economy.
- Increase the value of token currency.
- Brings the best experience Gamefi for players.
Besides, it also could limit the excessive amount of coins generated, the frequent generation of invalid addresses to receive and store funds. The number of coins is not expected to increase due to technical errors, or the issuance of inappropriate coins to transactions into public circulation.
Token burn Formula
Every month, 50% of HEGEM from in-game revenue will be burned.
We will collect a 5% fee from the transaction. 20% of every HERA transaction in 30 days on the HERA NFT Market will be burnt as announced.
$HEGEM Burn = 50% x total revenue.
$HERA Burn= 20% x (5% x transaction).
Burning coins theoretically increases the value of a cryptocurrency. Hero Arena has established a suitable burn schedule for the initial amount of coins and the number of coins burned over time to ensure the project is always growing reasonably.
About Hero Arena
Embracing the hottest trends to develop from the cryptocurrency industry, Hero Arena is a multiplayer NFT RPG game built on blockchain technology inspired by DOTA architecture with advanced blockchain technology and decentralized finance features to create an unprecedented experience.
Besides, Token Burn campaign, we also bring the best Play-to-Earn features to players. This January, there are many features released in the 2.0 version of Hero Arena such as Arena, Boss Battle, GACHA, Shop and Upgrade the rarity of Hero features.
Telegram Community: https://t.me/heroarenagame