Carbify to Hold Token Burn on March 8th

Name: Token Burn
Start: 2024-03-08T00:00:00Z
End: 2024-03-09T00:00:00Z

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Carbify is set to initiate a token burning spree starting from March 8th. The company has announced that it will permanently remove 1,000,000 tokens from circulation on the said date. Furthermore, starting from April, Carbify will continue to burn 100,000 tokens every month for a period of one year.

Event date: March 8, 2024 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.

Carbify
@carbify_io

🔥Big News!🔥 tomorrow, we kick off our $CBY token burning spree! Starting March 8th, 1,000,000 tokens will vanish forever. From April, we'll burn 100,000 monthly for a year! By next year, supply will drop by over 5%! More burning mechanisms coming soon... 🚀 #CBY #TokenBurn

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