Automatic Hyper Burn
Thanks to fLIBERO own innovative Hyper Burning program, every week, 1 to 4% of the total supply will be burned!
With our Hyper burn program, 1-4% of total circulating supply is automatically burned every week, so fLIBERO's total supply will constantly be deflating against your balance, while your balance is constantly increasing against fLIBERO's total supply. This built-in mechanism creates a true supply/demand metric to the fLIBERO token as it becomes ever scarcer against your balance with time.
This is an operation that consists of removing circulating tokens from a cryptocurrency by “burning” them.
The burn is used to support the supply of the project, we decided to innovate this principle when we started our Automatic Hyper Burn program.
Burning a token means removing it from circulation, which reduces the number of coins in circulation. This mechanism is used to prime a new coin or introduce scarcity, which causes the value of the coin to increase.
Burning of tokens can be done in two ways:
- Manually send it to an unowned FTM address, called an “eater” or “burner” address.
- Or more efficiently, create a contract that is unable to spend it.
In both cases, the burned tokens are unusable.
The burned tokens come from the Burn contract that you can find in the fLibero contract. So you can follow the weekly burn.
The burned tokens will be sent to the burn FTM address:
The program starts with 150 millions $fLIBERO reserved exclusively for this purpose and will increase over time. In order not to be a pump and dump program we will perform the burn operations in a linear and automatic methodology.
Every week, 1 to 4% of the total circulating supply will be burned. This percentage will evolve over the days based on our Automatic Hyper Burn algorithm. The burn calculation will be updated periodically according to the number of holders and the tokens held by each.