Walken Community has exciting news to share! They have managed to complete a token burn, which means they erased over 100 million $WLKN tokens from the stream.
This is a major step in making Walken a better and more sustainable play2earn platform for users. Let’s dive into what this means and how it helps everyone who is involved.
What is Token Burn?
Token burn is when a specific number of tokens are intentionally and permanently removed from the token stream. In this case, the platform sent these tokens to a special address with the intent to burn them. It’s key to know that this process does not affect the tokens players have in their wallets or when staking.
Building a Balanced Ecosystem on Walken
By reducing the total number of tokens out there, the company aims to create a stable ecosystem where supply and demand work well. As the number of tokens available gets low, their value may increase. So, it benefits the entire community as a whole.
Rewards for the Community
Token burn also brings rewards for the community using them. Long-term token holders who believe in the project and its future will have a lot of incentives. As the supply of tokens gets low, the remaining tokens may become even more valuable over time. This is a way for the platform to say thanks to those who support the project in the long run.
It is All About Growth for Walken
The vision here is to make a deflationary economic model for the $WLKN token. This means gradually bringing the number of tokens in circulation down over time. By doing so, the platform wants to counter inflation and save the value of the token in the long run. This way they can support the sustainability and growth of the overall ecosystem as well.
Working Towards a Better Future
The completion of the token burn marks an important milestone for the platform. It shows their commitment to building a stronger community and ensuring the success of the project.
Walken is excited about the possibilities that the token burn brings. They are grateful for the support and participation of the community. Together, they can continue to walk on this path toward a sustainable and much better future.
