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Crypto Speak : Token Burning Token burning is a deliberate strategy used in the cryptocurrency world where developers remove a portion of tokens from circulation. This act of creating scarcity can potentially drive up the token's value by reducing supply while maintaining or increasing demand. For instance consider a gaming token with 10 million tokens in circulation. To boost value, developers might burn 2 million tokens, reducing the supply to 8 million. With fewer tokens available, the remaining ones could become more valuable, attracting both investors and players. Token burning isn't just about increasing value—it's also a way to manage supply and prevent inflation by burning newly generated tokens. While it doesn’t guarantee success, it’s a powerful tool for projects aiming to enhance value and reward loyal holders. Understanding token burning is key for anyone involved in crypto, as it can significantly influence a project's value and growth potential.
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Here are the upcoming airdrop dates in the TON ecosystem 🤑 • Lost Dogs — September 12 • Catizen — September 20 • Hamster Kombat — September 26 • Cats — Late September (date unknown) • Major of Telegram — October 1 • TON Station — October 6 • MemeFi — October 9 • X Empire — October 15 • Tapswap — Mid-October (date unknown) • PocketFi — Q4 2024 (date unknown) • Blum — Q4 2024 (date unknown) 📌 Save this post for later
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🔒 Audit Clears Liminal Custody of Responsibility in $230M WazirX Hack ➡️ In a surprising turn of events, an independent audit has absolved Liminal Custody of any involvement in the $230 million hack that rocked the WazirX exchange back in July 2024. 🔍 Initially, fingers were pointed at Liminal's interface, but the audit conducted by Grant Thornton has now revealed that the breach occurred outside of Liminal's secure system. 💼 Liminal Custody, a Singapore-based crypto custodian, is breathing a sigh of relief as the investigation found no evidence of compromised systems in their frontend and backend infrastructure. 🔐 The company's robust security measures, including its multi-signature wallet model, were highlighted as key factors in safeguarding client funds. Transactions are initiated by clients themselves, suggesting the breach may have originated from the client's end. 🟠 While this news is certainly a win for Liminal Custody, it's important to note that a more comprehensive review is still required to fully understand how this breach occurred. 📌 In the aftermath of the hack, tensions ran high between WazirX and Liminal Custody, with each party questioning the other's security practices and audit veracity. This audit result may help mend some fences.
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DONT give us false hope #LONG positions 🥺🥺
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