Childrens Aid Foundation to Hold Token Burn on June 1st
Childrens Aid Foundation has announced that it will issue 200 million CAF on the Base chain as part of its risk sharing and traffic growth strategy. This move is aimed at maintaining the stability of the total amount of CAF in circulation.
Simultaneously, the organization has revealed that the 200 million CAF that will be unlocked on June 1st on the BSC chain will be destroyed and sent to the black hole address. This action is intended to ensure that the total amount of CAF remains unchanged at 200 million.
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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