Token burning refers to the permanent removal of existing cryptocurrency coins from circulation.
Token burning sounds like a complicated thing to do, but it is simple and just renders the burned tokens unusable for the future. The GMC burning will be achieved by GokuMarket collecting GMC throughout the year and removing a portion of them from availability. The amount of burned GMC tokens are announced and deposited into an irretrievable public wallet known as an “eater address.”
- Every proposal submit will require a fees of 1000 GMC to be paid. Out which 50% will be used as revenue, while the remaining 50% will be burned.
- All the non distributed GMCs from the GokuMarket Unlock program will be burnt.