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The BURN Project
- We are starting with a max supply of 1 Trillion Tokens.
- 80% of the total supply will be burned on launch.
- 7% is allocated to the Buyback & Burn wallet (2% of the pool is allocated to ShibaDoge | $SHIBDOGE tokens). Burn Tokens bought back are going to be completely removed from the blockchain and will never return — TrueBurn™
- 3% is allocated to the Liquidity pool.
- 3% is allocated to the Development wallet to further the development of the project.
- 2% is allocated to the BurnDAO Treasury.
- .15% Max Wallet Size
TrueBurn™ and the reduction of token supply
When the tokens are burned by the contract on the $BURN token, the tokens will also be removed from the token supply. These tokens are removed from the blockchain forever. Unlike the traditional method of transferring burned tokens to a dead wallet, such as address 0, TrueBurn will burn the tokens by removing them completely from the total supply. Essentially, those tokens will no longer exist and it will be like those tokens have never existed. You can imagine a scenario where the total supply is infinitely smaller than the initial starting supply.
To understand how this system will work, it’s important to first understand what a DAO is. A DAO is a decentralized autonomous organization, allowing the members (validated by ownership of a token or NFT) to participate in the governance of the organization. A DAO can serve any purpose, and it is best to think of it as a company and the DAO members represent the shareholders/board of directors. Not to be confused with a formal company, rather, a DAO is useful in any scenario where decisions are best made by the stakeholders. DAO smart contracts are written in such a way that the contract must enforce the decisions made by the holders voting. This virtually eliminates human error from the equation. The Burn token will act as a governance token that will allow holders to vote on how the burn treasury wallet should be distributed. Token holders will have the ability to vote their owned tokens in a DAO that will allow the holders to determine the buyback and burns that will be represented in every project. In addition, DAO users holding a minimum number of tokens will have the ability to vote and submit proposals on the tokens that will be subject to vote each month. Each burn token represents a vote in the DAO.
The BurnCard NFT is an exclusive non-fungible token in which the primary utility is to be burned at the discretion of the NFT owner. Once burned, the NFT is incinerated and removed from the blockchain, revealing a set number of BURN tokens that are automatically deposited into the same wallet that held your NFT. There are a total of 69 BurnCards that will be made available to the public. A single BurnCard NFT will be listed for 5 ETH, each containing a total of 10% of the .15% max wallet size.
• 80% Burn on Launch
• 5% Allocated to Uniswap
• 1% Allocated to Team
• 14% Community, Exchanges, Strategic Initiatives, and Ecosystem