🔥 Burning is the removal of a given number of coins from circulation.
🛡 When burning, the total supply decreases. This is necessary, for example, to remove commissions from circulation on various platforms or to protect the network from spam. In this case, transaction fees are burned in part or in full.
Buying or burning contributes to a rise in the asset's rate. In the long term, this allows the formation of an additional price increase.
The impact of such actions on the cost is indirect. Usually, a significant decrease in the number of coins in circulation is good news, contributing to the growth of the popularity and value of the asset.
In pools with the NMX token, the trading commission is 0.3%. Commission in other pools is 0.1%. Once a day, the withheld commission in NMX tokens will be burned. For burning, tokens are sent to this address.
🔥 Starting from 15th September, we are burning the 100% swap commission of the following pairs WBNB/USDT, WBNB/BUSD, BTCB/USDT, ETH/WBNB, ETH/USDT, BTCB/WBNB, DOGE/USDT, USDT/BUSD, MATIC/USDT. We will introduce the burning for all other pools a couple of days later.
This is a temporary measure taken by our team to support the price. 100% burning of the commissions – represents 0.07% of the total trading volume. 0.03% of trading volumes still are being paid to liquidity providers.
Stay tuned, we will notify you of further updates on our channels.