Every Monday night at 9PM UTC +9 we host a Mushroom (MUSH) burn event.
A token burn is the process of purposely and permanently removing tokens from circulation, reducing the total supply and rendering the burnt token unusable.
Every Monday we will be burning from the total supply the previous weeks total circulated amount of MUSH.
We do this by sending a portion of the MUSH tokens to an ‘eater address’, which is often referred to as a ‘black hole’ since the private keys for that address are not obtainable by anyone. Therefore, any tokens sent to an eater address are unrecoverable and cannot be used again, forever. These tokens are effectively taken out of circulation, publicly recorded and verifiable on the blockchain.
A burn event every Monday night
Say what?
Enjoy the burn
Philosophy
The world can be a cold place, we burn to keep you warm
The intended benefit of a burn event is that community token holders see the value of their MUSH increasing.
From the community angle
Token burns are a form of airdrop due to the value of community holders’ tokens increasing. Usually, after a burn the supply reduces and the value appreciates. This can make every community holder’s MUSH more valuable than it was before the burn. In essence, every Monday night, without needing to spend a dime value to token holders may be increased.
For further reading on burn events please see Cointelegraph
Say what?
A burn even every Monday night
Every Monday night at 9PM UTC +9 we host a Mushroom (MUSH) burn event.
A token burn is the process of purposely and permanently removing tokens from circulation, reducing the total supply and rendering the burnt token unusable.
Every Monday we will be burning from the total supply the previous weeks total circulated amount of MUSH.
We do this by sending a portion of the MUSH tokens to an ‘eater address’, which is often referred to as a ‘black hole’ since the private keys for that address are not obtainable by anyone. Therefore, any tokens sent to an eater address are unrecoverable and cannot be used again, forever. These tokens are effectively taken out of circulation, publicly recorded and verifiable on the blockchain.
Make sure you follow us on Telegram and Twitter for weekly updates and burn events.
It's about to get lit 🔥
Community-driven digital currency, no government or company has control over Mushroom
Community-driven digital currency, no government or company has control over Mushroom