Our goal with $THG and $THC is to use this as economic incentives to encourage users to participate in the ecosystem activities. The mechanisms described above have two main goals:
- To reward players for interacting with Thetan Arena while incentivizing them to utilize tokens for transaction, so as to create an internal circulating economy.
- To decentralize the ownership and governance of Thetan Arena.
- To ensure the sustainability & scalability of the ecosystem.
With the execution of the THC Burn, Thetan Arena is aiming to create a more balanced tokenomics, thus creating more benefits for the token holders and investors.
By definition, token burning is the process of permanently removing a portion of tokens of a crypto project from circulation, decreasing the number of tokens available. Technically, the tokens in question are transferred to a burn address that has no functions other than receiving tokens. Once sent to the burn address, the tokens will become unretrievable.
Burning token means reducing the overall supply. When a project executes token burning, its main goal is often to increase the value of the remaining tokens by making the assets more scarce. In other words, token burning helps against inflation. For this reason, some projects would burn tokens regularly in order to reassure investors of the value of the tokens.
By now we have executed some burns of THC - one of the two main tokens of Thetan Arena.
As Thetan Arena keeps growing, we also look to create a stable tokenomics for our holders and investors, who have put strong faith in Thetan Arena and provided the project with relentless support. Moreover, transparency is one of our cores that we have stuck to throughout the development. On account of these reasons, Thetan Arena will start burning tokens monthly as proof of our determination to fight inflation and to bring more value to our holders and investors, hence solidifying Thetan Arena as a project with great potential in the Play-to-Earn sector.
(Last updated on 07 Feb 2023)