A token burnA token burn event refers to when an amount of tokens are removed from the circulating supply. This is done... Read More is a process used to destroy tokens to reduce the total supplyTotal supply refers to the number of coins or tokens that currently exist and are either in circulation or locked... Read More. The purpose of a tokenTokens and Coins are often erroneously regarded as interchangeable terms. However, while both Tokens and Coins share technical similarity, tokens... Read More burn may be to create artificial scarcity or to remove unsold tokens following an initial coin offering (ICO)An Initial Coin Offering (or ICO) is a method for teams to raise funds for a project in the cryptocurrency... Read More. A token burn will decrease the total available supply and can increase the value of the remaining tokens because there are now fewer (scarcity). Burning tokens usually involves either sending them to a walletA crypto wallet is a tool that allows users to interact with blockchain networks. They are necessary when sending and... Read More with no access, ensuring the tokens are forever inaccessible, or to a smart contract addressA smart contract address is the public address of a blockchain-based smart contract. By being stored on the blockchain, a... Read More where the smart contractA smart contract is a piece of computer software that is designed as an automated self-enforcing contract, which means it triggers certain... Read More will delete the tokens.
