Burn (BURN) Is Now Available for Trading on LBank Exchange

Internet City, Dubai–(Newsfile Corp. – April 27, 2022) –  LBank Exchange, a global digital asset trading platform, has listed Burn (BURN) on April 27, 2022. For all users of LBank Exchange, the BURN/USDT trading pair is now officially available for trading.

Figure 1: Burn (BURN) Is Now Available for Trading on LBank Exchange

As an extremely hyper-deflationary currency, Burn (BURN) is built to become more scarce with each transaction that takes place within its economy, while its holders can get rewarded for simply holding the token. The BURN token has been listed on LBank Exchange at 21:00 (UTC+8) on April 27, 2022, to further expand its global reach and help it achieve its vision.

Introducing Burn

Burn is a hyper-deflationary currency with a radically different approach to DeFi tokenomics incorporating its TrueBurn methodology. It starts with a large supply to give the community a chance to participate and secure their positions, then let the insanely deflationary tokenomics do its part in making the token supply more and more scarce, while its holders can get rewarded for simply just holding it.

Ingrained in the tokenomics of the Burn Token is a tax that is directly attributed to 3 different buyback and burn wallets. These wallets accumulate funds through the taxes on transactions (buys/sells) and are used to buyback tokens on the open market. The purchased tokens are directly sent to the designated burn wallet or in the case of the BURN token – completely removed from the blockchain. These burns can take place at any time, both in a manual and an automated fashion, and the intention is to deploy the accumulated funds at strategic times.

The upcoming BurnDAO will allow token holders to vote their owned tokens to determine the buy back and burns that will be represented in every project. Furthermore, DAO users holding a minimum number of tokens will have the ability to vote and submit proposals on the tokens that will be subject to vote each month, and each burn token represents a vote in the DAO.

In addition, there is also an exclusive NFT (non-fungible token) called BurnCard, in which the primary utility is to be burned at the discretion of the NFT owner. Once burned, the NFT is incinerated and removed from the blockchain, revealing a set number of BURN tokens that are automatically deposited into the same wallet that held the NFT.

About BURN Token

Based on ERC-20, BURN has a total supply of 1 trillion (i.e. 1,000,000,000,000) tokens, of which 80% was burned on launch. It taxes a total of 15% on each transaction, of which 7% will be burned (2% of the burn goes to the ShibaDoge token), 3% goes into liquidity pool, another 3% is provided for development and operations, and the rest 2% goes into BurnDAO treasury.

The BURN token has been listed on LBank Exchange at 21:00 (UTC+8) on April 27, 2022. Investors who are interested in Burn investment can easily buy and sell BURN token on LBank Exchange right now. The listing of BURN on LBank Exchange will…