TGR token burn
Token burning is a process that permanently removes tokens from circulation, thereby reducing the total supply. This can be done in several ways, but most often by sending tokens to a "dead" address. Token burning is usually done by the development team behind the cryptocurrency asset. Its current balance is displayed in the blockchain, but no one has access to its contents.
There are several benefits from the token-burning procedure:
- Increase in token value
Burning reduces token turnover, thus decreasing the total supply. This can potentially increase the value of a token. Constant token burning helps maintain a stable value.
- Stable token value
Constant token burning helps maintain a stable value for the crypto-asset, and it also makes a bet on long-term price appreciation. Burning tokens can make the holder's token more valuable than it was before it was burned.