April and May months are the hottest months in the calendar and we are here with a burning hot update. Chingari has burnt ~2.

27 Apr 2023, 05:11

April and May months are the 🥵hottest months in the calendar and we are here with a burning hot update. 🔥Chingari has burnt ~2.6 million GARI which is approximately 0.25% of the total supply. Chingari will continue to burn GARI Tokens from its revenues until the supply reaches 21M (the supply of Bitcoin). 🔥Starting in June, Gari token Burn will take place on the 1st day of every month. ❕Token burning is a common practice in the crypto ecosystem, but it can be challenging to grasp the reasons behind it and its advantages for the network. ℹ️A token burn in cryptocurrency is the process of intentionally and permanently removing a certain number of tokens from circulation. 🔥Impact of token burn ↪️Token burning reduces total supply, leading to an increase in demand and a potential increase in token price. ➡️It stabilizes the value of the token and controls inflation, making it an effective long-term strategy. ➡️Token burning demonstrates the project team's commitment and boosts investor confidence in the project. ↪️Enhances the token's utility by creating ongoing demand as the supply decreases and perceived value increases. For a detailed read on the token burn refer to this medium blog!