BinaryX Proposes 1.62 Billion BNX Token Burn to Boost Scarcity and Value
July 17, 2024Web3 gaming developer BinaryX announces a community vote to reduce the total supply of BNX token by 1.62 billion, setting a new cap at 580 million tokens.
The move aims to increase scarcity and long-term value of the BNX token without impacting game output, as future rewards will still be distributed as community incentives.
This initiative introduces a deflationary model for BNX holders, enhancing the token's utility.
BinaryX emphasizes transparency and community engagement throughout the voting process, inviting users to participate by connecting their wallets during the upcoming official voting period.
BinaryX is known for popular Web3 games like Ai Hero and Pancake Mayor, leveraging blockchain and AI technologies to enhance player engagement and asset ownership.
Interested parties can find more information on BinaryX's website and social media platforms.
Summary based on 3 sources
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Sources
Investing.com • Jul 17, 2024
BinaryX Announces Historic Vote to Burn 74% of BNX TokensCoinJournal • Jul 17, 2024
BinaryX Announces Historic Vote to Burn 74% of BNX Tokens - CoinJournal