1% from buy and 1% sell of all $HGT traded are burnt in The Bonfire (send to a dead wallet)
The Fire Pit Address: 0x0000000000000000000000000000000000000000 [this is a dead wallet]
What does it mean?
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 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 BSC address, called an “eater” or “burner” address.
Or more efficiently, create a contract that is unable to spend it.