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$WORLDCUP Team Burns 6.3% of Supply Worth $168,000

The project says additional token burns may follow from national team coin creator fees, reducing circulating supply over time.

Summary

The $WORLDCUP team says it has burned 6.3% of the token supply so far, equal to about $168,000. The project also says more burns are expected to come from national team coin creator fees. Token burns (permanently removing tokens from circulation) are often used to reduce supply and can affect market dynamics by making remaining tokens scarcer.

Terms & Concepts
  • Token burn (permanent supply reduction): A process that permanently removes tokens from circulation, usually to reduce supply.
  • Circulating supply: The amount of a cryptocurrency token currently available in the market.
  • Creator fees: Fees earned by a token creator that may be used for buybacks or burns.