BinaryX Announces Historic Vote to Burn 74% of BNX Tokens - Chainwire

17Jul

BinaryX Announces Historic Vote to Burn 74% of BNX Tokens

Singapore, Singapore, July 17th, 2024, Chainwire

BinaryX, a leading developer and publisher for Web3 games, today announced a community vote to reduce the total supply of its BNX token. This initiative aims to increase the token’s scarcity and long-term value for the benefit of the BinaryX community.

Proposed Reduction of BNX Token Supply Cap

BinaryX invites all community members to participate in a crucial vote to determine the future trajectory of the project. The proposal seeks to reduce the maximum supply of BNX tokens by 1.62 billion, bringing the new cap down to 580 million. The current game output will remain unchanged, with future rewards after reaching the supply cap distributed as community incentives from the team’s share.

BNX to Enter New Deflationary Model

According to the team, the primary purpose of this vote is to decrease the potential market supply of BNX tokens by eliminating unminted ones. The action is expected to enhance the token’s utility through a greatly reduced token supply, consequently allowing BNX to enter a new deflationary model for holders.

Voting Details And Participation

The official voting period will be announced by the BinaryX team via their official media and community channels. To participate, BNX holders will need to visit the voting page from the official voting period, and connect their wallets to cast their vote.

BinaryX’s Commitment to Transparency

“BinaryX prioritizes transparency throughout the voting process and will disclose the results upon completion,” says Julio, Head of Growth at BinaryX. “The team is committed to fostering a fair, transparent, and sustainable project for the long term.”

The team emphasized the importance of community participation, highlighting that every vote counts, and will directly influence the direction of the project.

About BinaryX

BinaryX is a leading Web3 gaming platform dedicated to creating immersive and engaging gaming experiences like Ai Hero and Pancake Mayor.

Built on the BNB Chain, BinaryX leverages the latest technologies like blockchain and AI to provide players with unique opportunities to own in-game assets, participate in decision-making processes, and experience the true potential of Web3 gaming.

For more details and information about BinaryX, users can visit www.binaryx.pro