Topic: Top 10 Most Burned ERC-20 Tokens (Read 165 times)
Burning only benefits the token holder or investors if it takes place with the revenue of the project every month or quarter and it is done by purchasing the tokens from the market and then burned, burning from their own company holds or excess tokens is not going to nenefit the community alot and it will just be a symbolic event nothing more.
Token burn are sometimes useless and make me wondering why the team plan to use big max supply in the first place, for example that bytom token, it would have been great if bytom max supply is just 15,000,000, project teams should stop building huge max supply for their coins, it doesn't make sense
In my opinion, burning is useless when its not done from the circulation supply. Burning some idle multi million tokens out of the billions in total supply is meaningless and often times it has no significance on price. Binance and stellar burned tokens in circulation and this reflected in price immediately.
The token burning thing is just an illusion. Nobody cares about burning a token that doesn't work. It is only a reason for those who want to make a little more profit.
Also, the most important point of token burning activities is which tokens are burned. Locked tokens? Or from circulating tokens? Each choice will create different results. Therefore, the vast majority of tokens on the shared list do not care about anyone.
Also, the most important point of token burning activities is which tokens are burned. Locked tokens? Or from circulating tokens? Each choice will create different results. Therefore, the vast majority of tokens on the shared list do not care about anyone.
Burning 480 million dollars worth of token is not a small feat, thats a lot of money, thats half a billion dollars burned. However we should also take a look at if anyone could have sold 480 million dollars of fcoin as well and when you look at it, it looks insolvent and gone, so I am not entirely sure if we could actually call it half a billion dollars burned when its not even that much available like other ones.
Its also weird that there is no BNB here, that has been burned many many times so far and maybe its not erc-20 token thats right but its a coin that should be discussed when we are talking about burned tokens, they have burned god knows how many of them and it actually worths something compared to tokens here that usually do not worth anything at all.
Just because they are burning doesn't suddenly make them more valuable. Lets say you have a currency, you created it and own it, you print out 100 million of those tokens out of thin air and sell 40 million of it and there is 60 million in your wallet. You also gain millions of dollars in investment for your 40 million tokens that you sold. Just because you sell 10 million of your own token that you owned doesn't mean it should go up in anyway or shape. Sure you could have sold it but you burned it but it still doesn't mean that it should worth it.
Let's say you decided to steal from people, so you suddenly do something shady like run away with the investment and funds, just because you burn after that doesn't mean you are no longer a scammer, its still a scam to do it. So just as you can see there are plenty of ways that burning could mean nothing.
Let's say you decided to steal from people, so you suddenly do something shady like run away with the investment and funds, just because you burn after that doesn't mean you are no longer a scammer, its still a scam to do it. So just as you can see there are plenty of ways that burning could mean nothing.
The false sense of thinking token burn magically makes your bag value shoot up.
Yea, i think this is one kind of mind game also. i saw many projects and tokens of market that burning of tokens did not make affect to price but sometimes it work for investors even market also. Investors think that as supply stopped rest of the token will buy more people and price will be high. But i think its impact is very lower in market.
The false sense of thinking token burn magically makes your bag value shoot up.
Yea, i think this is one kind of mind game also. i saw many projects and tokens of market that burning of tokens did not make affect to price but sometimes it work for investors even market also. Investors think that as supply stopped rest of the token will buy more people and price will be high. But i think its impact is very lower in market.
The false sense of thinking token burn magically makes your bag value shoot up.
You can agree or disagree with my opinion above but at least, I hope we can all agree in token burn mean there is a miscalculate before minting.
You can agree or disagree with my opinion above but at least, I hope we can all agree in token burn mean there is a miscalculate before minting.
Over and over we have seen that reduction in token does not boost price of token. Some developers came up with deflating token too. At initial, price moves up but over time more people realise use of token keeps price up
Token burn are sometimes useless and make me wondering why the team plan to use big max supply in the first place, for example that bytom token, it would have been great if bytom max supply is just 15,000,000, project teams should stop building huge max supply for their coins, it doesn't make sense
Nice point. They will make the supply to hundreds of millions to gazillions and then they'll burn it eventually when there's lack of volume. The idea of burning started out from the bitcoins that have never been spent or sent to addresses that are no longer being accessed by the owners. And in that case, bitcoin became more scarce and the other altcoin developers saw something in it which can be their last resort if ever the economy of their tokens starts to deteriorate. What's the need for a token burn after tokens has been minted? Why not decide on token metrics before minting tokens. Token burn does not make a project more profitable as we all think less token does not equal utility. No utility means no value.
Good point.
If no one is using the token the burning will really have no positive impact on the price. The token will have to be very unique and very useful to attract real demands, and for the price to increase.
By the way, i would prefer a mechanism for locking up tokens (with fixed supply) via consensus, than burning... especially for auto regulating the price of the token in decentralized manner.
Token burn are sometimes useless and make me wondering why the team plan to use big max supply in the first place, for example that bytom token, it would have been great if bytom max supply is just 15,000,000, project teams should stop building huge max supply for their coins, it doesn't make sense
it is not just that, one should note why tokens are burned, if that is because there is a burning functionality defined in whitepaper and correlated with development to speed up value increase for early adopters, it is one thing, but if they burn tokens just to have decreased number of tokens, it is just marketing, and should not influence token value in the end
How many DAI/SAI has been burned? When you pay back into a Vault/CDP you are burning the DAI/SAI.
Token burn are sometimes useless and make me wondering why the team plan to use big max supply in the first place, for example that bytom token, it would have been great if bytom max supply is just 15,000,000, project teams should stop building huge max supply for their coins, it doesn't make sense
This token burn of a thing hardly moves people again because they have come to understand that once a project lacks the right use case and so on, it won't really be worthwhile holding it thus even token burn will rarely have a positive impact on the price. Before now, on the mention of token burn the market value of the project will start reacting in a good way, but nowadays it has changed, wherein project's worth comes first. However, there is still every tendency it might work on some projects and won't work on others, all am saying is, the hype behind token burn has reduced.
What's the need for a token burn after tokens has been minted? Why not decide on token metrics before minting tokens. Token burn does not make a project more profitable as we all think less token does not equal utility. No utility means no value.
Before launching the project, they should have made their own calculation about the potential users and the distribution. It is a plan, nobody can guarantee us it will work as planned that is why there is something called token burn to re-shape the token metric based on users,
demand and distribution.
Also, they can use it as a form of marketing to increase the demand because they are reducing total supply tokens. But it can not be considered a utility, it is a feature.
Exactly, you never know, obviously they have calculated things in advance but it's hard to predict anything in the crypto market.
What's the need for a token burn after tokens has been minted? Why not decide on token metrics before minting tokens. Token burn does not make a project more profitable as we all think less token does not equal utility. No utility means no value.
Before launching the project, they should have made their own calculation about the potential users and the distribution. It is a plan, nobody can guarantee us it will work as planned that is why there is something called token burn to re-shape the token metric based on users,
demand and distribution.
Also, they can use it as a form of marketing to increase the demand because they are reducing total supply tokens. But it can not be considered a utility, it is a feature.
What's the need for a token burn after tokens has been minted? Why not decide on token metrics before minting tokens. Token burn does not make a project more profitable as we all think less token does not equal utility. No utility means no value.
Nothing excites hodlers more than these two words.
Benefits of token burns are clear: lower token dilution and potential secondary market support. Burns should be provable, and ERC20 tokens do so by sending tokens to the 0x00 address.
It's interesting that some of the top 10 most burned tokens have burned more than the current project value.
More Token Burns
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