Key Points:
- 100 billion BonkDAO burned in circulation as part of BURNmas!
- BonkDAO’s massive burn plan starts November 15 and ends December 24.
- The BURNmas event aims to reduce inflation and increase BONK’s value.
BonkDAO just announced its intention to substantially reduce the circulating supply of its token, BONK, following the recent burning of 100 billion tokens.
BonkDAO Burns 100B BONK
This is in addition to its more significant, ongoing commitment to burn 1 trillion BONK before Christmas in a bold initiative aptly dubbed BURNmas, running from 12:01 am UTC on November 15 to 12:01 am UTC on December 24.
This BonkDAO burn is to reduce the total supply of BONK and make tokens more valuable by creating scarcity. According to BonkDAO, this huge burning event will show dedication to the long-term BONK community and the sustainability of the token’s ecosystem.
1 Trillion BONK to Be Burned by Christmas
BURNmas will be one of the largest, if not the largest, token burns in crypto space: 1 trillion BONK will be burned out of circulation in over a month. This would significantly dent the overall supply of BONK and reduce inflationary pressure while increasing investor confidence.
The BONK token, which tamed the public’s attention earlier this year with solid support and viral marketing strategies, keeps trying to stand out within a competitive market.
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Source: Coincu