Avorak AI (AVRK) Burn: Now Better Than BNB Burn?

22. März 2023 Aus Von admin

• BNB has one of the most well-known cryptocurrency burns, with over 44 million coins burned so far.
• Shiba Inu managed to burn 50% of the supply by sending it to Vitalik, who subsequently sent a small amount to charity and sent the rest to the network burn address.
• Avorak AI is delivering a set of AI tools for trading, creative tasks, and general life enhancement that includes a live payment routing system that returns some of the revenue to AVRK holders.

Overview of BNB Burn

The Binance exchange created BNB with a goal to burn half of the 200 million supply down to 100 million. So far, over 44 million BNB has been burned, which at $330 per BNB equates to over $14 billion dollars. This tokenomics has helped increase its value since it was created in 2017 and will slow down once 100m circulating supply is reached, after which the burn will stop.

BNB Bridge Exploit

In 2022, the bridge that allows movement between the BEP-2 and BEP-20 chains of BNB was exploited and increased its supply by 2 million coins bringing it up to 202 million. Despite this setback, there are still plans in place for reducing it back down towards 100 million as outlined in a blog post from January 2023.

Alternative Burn Crypto

Shiba Inu is one crypto that tried emulating this burning process with success by sending 50% of its total supply to Vitalik who then sent some money off to charity and put the rest into network burn address. Other tokens have adopted their own approaches such as taxing buyers and sellers when trading – an unpopular solution amongst users.

Avorak AI Burn Function

Avorak AI is introducing new features through their token AVRK including AI tools for trading, creative tasks, and general life enhancement. Whenever someone pays for these credits via AVRK tokens, part of this revenue is returned back into AVRK holders wallets – offering them an incentive while also driving demand for their token on exchanges.

Conclusion

Burning crypto tokens is becoming increasingly popular due its ability to reduce circulating supply while also increasing demand indirectly through incentivizing holders with rewards or discounted services/products when using certain cryptos exclusively. Avorak AI’s unique approach offers users more value than other alternatives out there making them stand out from competitors in terms of innovation and user experience benefits – something that should make traders take notice in future months!