Token Burn
On this page you can find all the relevant infos regarding the OXE token (OXE) burn and burn events
Last updated
On this page you can find all the relevant infos regarding the OXE token (OXE) burn and burn events
Last updated
The OXEchain Team will burn total of 30,000,000 OXE tokens/yearly. This will reduce the maximum OXE supply by 30M forever. The 30M OXE that are going to be burned are unsold tokens from the different sale phases. We had already promised to burn unsold tokens in the past and are now carrying this out. Destroying tokens will lead to a higher value of the remaining OXE tokens in the long run, as the total amount of possible tokens will be reduced.
The OXE token smart contract has a burn function that sends the burned tokens to an address that can not be accessed by anyone. Therefore, these tokens can never be sent again and are lost. Just like when you lose the private key for a wallet. The burn function also reduces the number of the maximum token supply.
The token burn will run as follows, every month after ico is over 3% in addition of unsold tokens will be burned in a burning event. This burning event will run over a period of 36 months. After this two years a total of 30,000,000 plus (30M) OXE tokens will be burned. In the table below you can find the burn schedule and the related burn transaction links.
TABLE TO BE ADDED
There are several reasons for this. For one thing, burning all tokens in in one go would have less effect on the price development now than in the future. In addition, people would have forgotten the token burn quickly. With a spread over a longer period of time, it has a greater effect and more people learn about it. Furthermore, at the current market price, a smaller USD equivalent would be burned. If the OXE price continues to rise in the future, a larger amount of USD equivalent can be destroyed each month. Which is positive for the price development. Last but not least, it is also good from a marketing point of view, as we can announce the token burn every month over a period of two years.
As the maximum supply is reduced, there will be fewer tokens in circulation in the long run, making each OXE token worth more. In addition, reward token reserves for liquidity mining will last longer because fewer OXE tokens can be in circulation. It will also become more difficult to reach the highest loyalty tier as user numbers increase.
