Azbit AZ: Coin Burn
The weekly burn is carried out to strengthen the market position of AZ token. Azbit team will eliminate native tokens from circulation until the amount of AZ is reduced to 13,888,888,888 (i.e. 10% of the initial supply).
Event date: November 30, 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.
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As a Monday tradition, Azbit burns native coins according to the overall trading volume. This time, 52,838,739.55 AZ were turned to ashes.
Proof ⬇
etherscan.io
✅ The next burn is scheduled for November 30, 2020.
The event is about to begin
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