All crypto enthusiasts know that burn events are helpful to make tokenomics of each project more healthy. In the last year, we saw burning of BNB, ETH, Shiba and many other coins and tokens.
Each of them has its own reasons to burn some portions of the circulating supply: from controlling the price to showing the willingness of the team to make decisions for the benefit of the project. All cryptocurrency coins can be burnt. The decision to burn tokens is usually vested in the developer team of the coin. Sometimes, coin burns can be initiated by the core community also. Burning process is highly similar to the idea of a publicly-traded company buying back its stock.
The BlackHat Project Team fully supports the idea of improving the economy of the project. Especially considering the very fast economy at the start, when the income in BlackHat Project from staking and masternodes for users was and still is quite significant. After all, burning coins directly affects the dynamics of supply and demand.
That’s why team has made a decision to run the first BlackHat project burn event and burn 150 000 coins based on two criterias:
- 15 515,09 BLKC from airdrop:
coins that users did not withdraw after airdrop end;
coins obtained in violation of the rules of airdrop referral program.
- 134 484,91 BLKC coins that the team bought from the market from the paper hands.
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