Is there a destruction mechanism for woo coins?

Yes, WOO coins have a destruction mechanism. This mechanism is called the "Daily Burning Mechanism", which regularly removes WOO coins from the circulating supply, including: 1. The number of burns depends on 50% of transaction fee income; 2. The burned WOO coins are removed from the open market address, Permanently reduces the total supply. This mechanism reduces inflationary pressures, increases scarcity, stabilizes prices, and enhances a store of value.

WOO coin destruction mechanism

Does WOO coin have a destruction mechanism?

Yes, WOO coins have a destruction mechanism.

Destruction Mechanism विवरण

WOO Network has introduced a destruction mechanism called "Daily Destruction Mechanism". This mechanism reduces the total supply of coins by periodically removing a certain number of WOO coins from the circulating supply.

Here’s how the daily burning mechanism works:

1. The number of WOO coins burned daily depends on the transaction fee revenue generated by the WOO Network.
2. WOO Network will use 50% of transaction fee income to repurchase and destroy WOO coins.
3. Burned WOO coins will be removed from WOO Network’s open market addresses, permanently reducing the total supply.

Benefits of the Burning Mechanism

The daily burning mechanism provides several benefits, including:

• Reduced Inflationary Pressure: By reducing the total supply of WOO coins, the inflationary pressure generated by new coins is reduced.
• Increased scarcity: The burning mechanism makes WOO coins more scarce as the number of tokens in circulation decreases over time.
• Support price stability: By reducing inflationary pressure and increasing scarcity, the burning mechanism can help stabilize the price of WOO coins.
• Enhanced Store of Value: Over time, the destruction mechanism can increase the value of WOO coins as a store of value.

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