🔥
Automatic Burn
The Auto-burn creates a deflationary effect and takes more and more $CYM out of circulation with each transaction. Cylum's own's a revolutionary auto burning algorithm which will first burn 2% of the whole supply at launch thus kickstarting the auto burn process. The Auto Burn ensures that Cylum's total supply is continually deflating in comparison to your balance, while your balance is always expanding in comparison to Cylum's total supply. This built-in mechanism gives the Cylum token a true supply/demand gauge as it gets increasingly rare against your balance over time.
Simply said, if you simply hold Cylum, your part of the overall market cap will continue to grow. Even if the market capitalization does not increase (because of the absence of new investors), the USD worth of the tokens in your wallet will continue to grow. If the market cap increases as a result of additional investors, the USD value of your tokens will increase even more as your share/total supply continues to climb each week.
This is a process that involves "burning" circulating tokens from a cryptocurrency.
The burn is utilized to bolster the project's supply chain; we chose to innovate on this premise when we launched our Automatic Hyper Burn program.
Burning a token removes it from circulation, reducing the available supply of currency. This process is used to "prime" a new coin or to create scarcity, which increases the coin's value. Tokens can be burned in two ways:
- 1.Manually or by sending them to an unowned BSC address referred to as a "burner" address.
- 2.Alternatively, and more efficiently, construct a contract that is incapable of being spent.
In either situation, the burned tokens are rendered useless.
The burned tokens are generated via the Burn contract, which is included in the Cylum contract. Thus, you can keep track of the weekly burn. The burned tokens will be delivered to the following BSC address:
0x0000000000000000000000000000000000000000dEAD
The program begins with a one-billion-dollar Cylum reserve set aside expressly for this purpose and will gradually rise in size. To avoid being a pump and dump program, we shall conduct the burn operations in a linear and automated manner.
At Launch 2% of the whole circulating supply will be consumed. More burn events would be announced after burn tokens are unlocked as a result of our Automatic Hyper Burn methodology. Daily updates will be made to the burn computation based on the number of holders and the number of tokens held by each.
- 2% of total supply is burnt at LAUNCH
- 15% total supply is burnt after 1st IMO
- 15% total supply is burnt after 2nd IMO
Last modified 9mo ago