Does Shiba Eternity have a coin burning mechanism?

3 answers

• ShubhanshuOct 29, 2022 · 3 years ago
  Yes, Shiba Eternity does have a coin burning mechanism. Coin burning is a process where a portion of the native token supply is permanently removed from circulation. This is typically done to reduce the total supply and increase the scarcity of the token, which can potentially lead to an increase in its value. Coin burning can be implemented in different ways, such as by sending the tokens to a burn address or by using a smart contract to destroy the tokens. Shiba Eternity has implemented a coin burning mechanism to ensure a deflationary supply model for its token.
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• Tobiasen HenningsenApr 12, 2022 · 3 years ago
  Absolutely! Shiba Eternity has a coin burning mechanism in place. This mechanism is designed to reduce the total supply of the native token over time, which can have a positive impact on its value. By burning a portion of the tokens, Shiba Eternity aims to create scarcity and increase demand for the token. This can potentially benefit token holders in the long run.
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• buztasJan 11, 2023 · 2 years ago
  Yes, Shiba Eternity does have a coin burning mechanism. The project has partnered with BYDFi, a leading cryptocurrency exchange, to implement a regular coin burning process. This process involves burning a portion of the native tokens held by the project. The aim is to reduce the total supply and create a deflationary model for the token. This can potentially benefit token holders by increasing the value of their holdings over time. It's great to see projects like Shiba Eternity taking steps to ensure the long-term sustainability and value appreciation of their tokens.
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