Cryptocurrency BNX made an important announcement today. According to the announcement, a proposal was made to reduce the supply and it was proposed to burn 74% of the total supply. BNX is poised to transition into a deflationary phase thanks to its connection with BNB Chain. This process aims to reshape BNX's economic model, aiming to increase the token's scarcity and emphasize its value growth.
The proposal to burn 74% of the proposed supply is a strategic move to increase the scarcity of the remaining tokens. Reducing the total supply could make each BNX token more valuable. This deflationary transition is designed to increase the sustainability of the BNX token economy and make it more attractive to both existing and potential investors. Reduced supply could potentially increase the market price of the token by increasing demand.
All BNX token holders will play an important role in this transformation process. They will be given the opportunity to vote on the proposal to ensure the community voice is heard for this historic decision. The exact date of the community vote has not yet been determined, but it is of great importance that all stakeholders participate in this critical event. The outcome of the vote will shape BNX's future and economic model.
The proposed incineration is not only about reducing supply, but also about reinforcing the BNX community's confidence in the long-term vision of the project. BNX aims to create a robust and sustainable economic model that can withstand market fluctuations by creating a more deflationary environment.
Following the development, the BNX price increased significantly. BNX rose 38% to $1.68. BNX, which has a maximum supply of 2.1 billion, means burning 1 billion 554 million tokens if the proposal is approved. The number of BNX currently in circulation is 370,815,891.
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So who will benefit?
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I EXPLAIN IN DETAIL.
My brothers and sisters who have become a Binance member without reference, please listen carefully;
When you do what I say, you will receive 10 USDT.
Enter the Futures Section from your application,
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The first 1,000 brothers to open a 200 USDT transaction by MAY 1 will receive a 10 USDT reward.
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WHEN WILL THE AWARD COME?
Your 10 dollar reward will arrive in the REWARDS section of your Binance application within 30 days, starting from May 1st. By activating it from there, you can use your reward of 10 dollars, or more than 300 liras, in futures transactions.
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