Within the crypto industry, a coin burn is a deflationary mechanism that is used to permanently remove coins from circulation. Most cryptocurrency projects, including Dollarmoon, burn coins to sustain the value of their digital asset and create a deflationary effect.
Dollarmoon utilizes two coin-burning mechanisms: automatic and manual. The automatic mechanism is included in our tax system - it’s 3% from every buy and 4% from every sell transaction that goes to the dead wallet. The manual one is the Big burning events with every new phase of the roadmap unlocked.
These methods ensure that the number of tokens in the Dollarmoon ecosystem is constantly decreasing, and that will contribute to an increase in the currency’s scarcity and value.
As of March 13, 2023, several burn events were completed. In total, 90,363,958 Dmoon tokens have been destroyed, reducing its initial 200M supply by 45.18%.