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Azbit AZ: Coin Burn
To date, the number of native coins eliminated from circulation reaches 13,552,692,334.65. Azbit burns tokens according to the overall trading volume in order to support the price of the existing AZ. The procedure will take place every week until 125,000,000,000 AZ (i.e. 90% of the initial supply) are permanently destroyed.
Event date: October 12, 2020 UTC
What is coin (token) burn?
A coin (token) burn is a process of sending a certain amount of cryptocurrency to a public address that has unobtainable private keys. In the future, the sent coins cannot be spent, thus the coin burn leads to an overall decrease in the cryptocurrency circulating supply.
The event is about to begin
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