After the successful NFT launchpad program was organized on the platform, we have been listening to the community demand about a possible burn program.
Simultaneously, the AirNFTs team has been at work planning the most value-adding burn schedule for our beloved AIRT community.
What's a Token Burn?
For starters let's explain what a token burn actually means. A token burn is a process of sending a number of tokens to a wallet address where the private keys are unobtainable by anyone. This process makes the tokens unusable forever and cannot be undone.
The end goal is to reduce the token total supply and thus making it more valuable for the holders.
Why Do Projects Do Token Burn?
Token burns will keep the token value at a healthy level and importantly embrace the importance of scarcity as the supply of the tokens in circulation is intentionally decreased.
This process adds confidence for the community of token holders as the tokens they hold become more and more scarce and thus valuable.
AIRT Token Burn Schedule
The AIRT burn schedule will be a bi-weekly period burn where a portion of the unsold launchpad tokens is burned and sent to a burn address. Unlike other projects we have a top cap so we will never mint new AIRT tokens, the burnt tokens will unobtainable forever and thus this reduces the total supply indefinitely.
Every 2 weeks, we will be burning 10m AIRT, and thus reduce periodically the total supply of the AIRT tokens, until the entirety of the unsold 114m AIRT is fully burned (Which is closer to 15% of the token total supply)