Glossary - ChicksX

Burned Tokens are those that have been permanently removed from circulation. Reducing supply and potentially increasing value.

Burned Tokens are cryptocurrencies that have been intentionally destroyed, making them inaccessible and unspendable. This process is often achieved by sending the tokens to an address that cannot be accessed or used. By reducing the total supply of the tokens, their scarcity may increase, potentially leading to a rise in value. Token burning can be part of a project’s strategy to manage inflation, incentivize holders, or signal long-term commitment to value appreciation. This mechanism is a common practice in various blockchain ecosystems.