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 quarter 20% of the fees collected in the form of GMC are burned, until a total of 2.5 Billion GMC (50% of total supply) are burned.
Last modified 5mo ago
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