Other cryptocurrencies use the coin burning mechanism in innovative or different ways. Here are some examples:
### 1. **SafeMoon**
- SafeMoon uses a system where a portion of the coins are burned with each sale, which continually reduces the supply and incentivizes investors to hold the coin.
### 2. **EverGrow (EGC)**
- EverGrow adopts a periodic burning mechanism, where a portion of transactions are burned on a regular basis, which contributes to reducing the supply and increasing the value in the long term.
### 3. **ShibaSwap (BONE)**
- As part of the Shiba Inu system, BONE is burned periodically to stimulate activity on the platform and increase demand.
### 4. **PancakeSwap (CAKE)**
- PancakeSwap periodically burns a portion of transaction fees, reducing the supply of CAKE and increasing its value.
### 5. **Axie Infinity (AXS)**
- AXS is burned when used for certain in-game activities, such as purchasing items or fees, which helps reduce the supply.
### 6. **TRON (TRX)**
- TRON's mechanism involves burning a portion of the fees on some transactions, which helps reduce the supply and boosts value.
### 7. **MATIC (Polygon)**
- Polygon uses a burning mechanism to reduce the supply of MATIC, especially when the currency is used in some applications or transactions.
### 8. **Run (HOT)**
- Holo uses a burning system to reduce the supply when the currency is used in certain applications.
### Why do these coins use a burning mechanism?
- **Holding incentive**: Encourages investors to hold coins instead of selling them.
**Increased scarcity**: Decreasing supply can lead to increased demand and thus higher price.
**Performance improvement**: Some projects use burning as a means to improve network or platform performance.
Burning methods vary between projects, but the general goal remains to improve the value of the coin and increase its attractiveness.
