Glossary - ChicksX

Token Burn is the intentional removal of cryptocurrency tokens from circulation to reduce supply and potentially increase value.

Token Burn is a process where cryptocurrency tokens are intentionally destroyed or removed from circulation, effectively reducing the total supply. This is often achieved by sending tokens to an "eater" address, a wallet from which they cannot be retrieved. Token burns can be conducted by developers or organizations to create scarcity, potentially increasing the token's value. It can also be used as a deflationary measure or to reward holders by increasing their token's value over time. Token burns are transparent and verifiable on the blockchain, ensuring trust in the process among investors and the community.