Global gaming and play and earn company GamerHash takes the ecosystem to another level. The company decided to step forward towards the project’s trust and reliability.
That is why the token burn process is coming to GamerHash.
Token burn is a standard move of every trustful and promising cryptocurrency project. Therefore, on December 29, 2021, GamerHash is planning to limit the supply of GamerCoin and achieve a huge milestone.
During the first round, the company will burn 12 000 000 GHX and is planning to burn more in the future. The project shared details of the next rounds and the amount of planned burned supply:
- 10.01.2022 – 10 mln GHX
- 08.02.2022 – 10 mln GHX
- 10.03.2022 – 10 mln GHX
- 11.04.2022 – 10 mln GHX
- 09.05.2022 – 10 mln GHX
- 06.06.2022 – 10 mln GHX
All burns together will reduce the total GamerCoin’s supply by 8,1% – 72 000 000 GHX, it will drop the total supply from 880,000,000 to 808,000000. These are some amazing news for investors and project enthusiasts.
Why is the token burn important for the ecosystem?
Burning has a great impact on many fields of the project. Probably, the most satisfying reason is the token’s price change and many traders count on this to happen. However, that is not the most important result of burning.
“Trust and confidence in the project is the most desired effect when it comes to tokens burning. Investors are assured that their funds will not be affected by over circulation. Also, the whole process attracts new investors and causes present investors to stay with the project. Token burn is a clear signal that GamerHash has long-term plans. We’ve shown our hard work by delivering many steps from the Roadmap and token burn will be the icing on the cake!, says Artur Pszczółkowski – CMO of GamerHash.
How will GamerHash perform the token burn?
There are two existing ways of conducting the burning process. GamerHash will burn their tokens using an eater address option which means tokens will be sent to the so-called “black hole”.
Sounds quite terrifying but what does it mean? A black hole is an address where you can send your deposit but no one will be ever able to withdraw it or transfer it to another address.
In this case, burning tokens is equal to trapping them on the blockchain. It doesn’t mean they are dissolved but they are gone from the total supply.
The whole process is transparent and every member of the community can check the details here. They are recorded on the blockchain’s transparent ledger.
This way of burning is simple, efficient, and visible for anybody who wants to check if the burning was performed.
About GamerHash
GamerHash is one of the leading global gaming projects with more than 650.000 users and a native token GamerCoin (GHX).
Users exchange their idle computing power and complete play and earn tasks to earn crypto. It can be withdrawn or exchanged for over 600 digital products in the GamerHash Store.
GamerCoin $GHX token is listed on top cryptocurrency exchanges such as Bithumb, KuCoin, and Bitcoin.com.
At the same, it’s the first (EU) licensed gaming token. The project is planning to launch its NFT marketplace focused on gaming and esports as well as reach 1.5 million users by 2022.
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