🔥Burning Mechanism
Last updated
Last updated
Burning tokens reduces the supply, making them more scarce. Because of the scarcity, prices may rise, resulting in a profit for investors. Since we have a Buy & Burn Mechanism, it also involves a buying process.
For example, when someone deposits into the Farm, 4% of the deposit amount is used to buy GYMNET tokens and burn them.
That way add constant buy pressure while reducing the total supply which has a long term stabilizing effect for the price of GYMNET.
A powerful set of deflationary mechanisms is built into the protocol to ensure the long-term stability of GYMNET’s price.
Altogether, the buyback and burn program can generate thousands of dollars’ worth of demand for GYMNET monthly even in the early stages. The goal is not to pump the GYMNET price but rather to keep it stable or growing at a stable slow rate, regardless of the market conditions; thus the important role of the linear buybacks.
Percentage
GymNet Token Stability program - Buy and burn
Token
Time frame
3%
Sell Taxation CEX & DEX
Gymnet
Manually
3%
Buy Taxation CEX
Gymnet
Manually
4%
Farms deposit (mandatory)
BNB, BUSD→GYMNET
immediate
8%
Initial land sales (GYMSTREET)
BUSD→GYMNET
immediate
8%
Initial land upgrades (GYMSTREET)
BUSD→GYMNET
immediate
8%
Initial miner sales (GYMSTREET)
BUSD→GYMNET
immediate
8%
Initial aesthetic NFTs sales (GYMSTREET)
BUSD→GYMNET
immediate
1%
Royalties (GYMSTREET)
BNB, BUSD→GYMNET
immediate