Dear LBank users,
BURN(Burn) will be listed on LBank at 21:00 on Apr 27, 2022 (UTC+8), the details are as follows:
Trading Pair: BURN/USDT
Deposit Enable: 18:00 Apr 26, 2022 (UTC+8)
Trading Open: 21:00 Apr 27, 2022 (UTC+8)
Withdrawal Enable: 18:00 Apr 28, 2022 (UTC+8)
- About BURN(Burn)
The BURN token is an extremely hyper-deflationary currency that is built to become more scarce with each transaction that takes place within the BURN economy. 80% of the total supply will be burned on launch.
When the tokens are burned by the contract on the BURN token, the tokens will also be removed from the token supply. These tokens are removed from the blockchain forever. Unlike the traditional method of transferring burned tokens to a dead wallet, such as address 0, TrueBurn will burn the tokens by removing them completely from the total supply. Essentially, those tokens will no longer exist and it will be like those tokens have never existed. You can imagine a scenario where the total supply is infinitely smaller than the initial starting supply.
- About BURN Trading Rewards
LBank supports BURN trading rewards. 10% will be deducted as a transaction fee which breaks into as follows: 3% will be returned to liquidity pool; 3% will be used for Development and Ops; 7% will be used for burn，2% will be used for Burndao treasury.
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