Home » Finance » Cryptocurrency » The intentional destruction of tokens to reduce the total supply, often to increase scarcity and value. What is it?

The intentional destruction of tokens to reduce the total supply, often to increase scarcity and value. What is it?

Lim How Wei
October 7, 2024

In X Empire, you can develop your character, earn in-game currency, and receive a real token.

Earn in-game currency by tapping the screen and upgrading your character’s skills.

Invite friends to earn a percentage of their earnings and accumulate coins effectively.

To get started, add the X Empire Telegram bot: t.me/empirebot/game?startapp=hero466161146.

To answer the riddle of the day, launch the app, reach level 3, select “Quests”, and select “Riddle of the Day”.

In this guide, you’ll learn the answer to “The intentional destruction of tokens to reduce the total supply, often to increase scarcity and value. What is it?” in X Empire.

The intentional destruction of tokens to reduce the total supply, often to increase scarcity and value. What is it?

Question: The intentional destruction of tokens to reduce the total supply, often to increase scarcity and value. What is it?

Answer: Burn.

Further reading

The framework and rules that determine how decisions are made within a blockchain network or decentralized organization. What is it?

A split in a blockchain’s protocol that creates two separate chains, often resulting in new cryptocurrencies. What is it?

The ease with which an asset can be quickly bought or sold in the market without affecting its price significantly. What is it?

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About the author

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Lim How Wei

Lim How Wei is the founder of followchain.org, with 9+ years of experience in Social Media Marketing and 5+ years of experience as an active investor in stocks and cryptocurrencies. He has researched, tested, and written thousands of articles ranging from social media platforms to messaging apps.

Lim has been quoted and referenced by major publications and media companies like WikiHow, Fast Company, HuffPost, Vice, New York Post, The Conversation, and many others (source: link profile). One of his articles about the gig economy was quoted by Joe Rogan, who hosts The Joe Rogan Experience (arguably the most popular podcast in the world), in the This Past Weekend podcast by Theo Von.

In his free time, Lim uploads personal finance videos on his YouTube channel, Lim Finance, to guide others on their financial journey. He also creates gaming guides, walkthroughs, solutions, and tips for the games he plays, helping players with their progression.