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The Burning Chamber
The Afterburner Engine Tax that is collected from token transactions will be accumulated in Afterburner's Reward Pot. The collected amount will depend on the result of the engine's internal performance and it will be sent to the Burning Chamber directly.
Due to the Burning Chamber's respective nature, 15% of the chamber's BUSD holdings will be allocated for its automated buyback mechanism every week. "The buy frequency of the chamber's buyback policy will be adjusted to every 25 minutes"
By doing so the chamber will enforce a self-regulating supply control policy over the protocol and constantly remove some part of the circulating supply in order to keep the protocol stable and perpetually increase the value of the $ARB tokens that remain in circulation, and in the market. What's more, The Burning Chamber will also accumulate further $ARB tokens from another Buyback Mechanism that is being maintained by The ARB Treasury! That's right! The AFTERBURNER Protocol will be backed by two separate buyback mechanisms and The Burning Chamber will administer a succeeding burn policy which will burn 2% of its total $ARB holdings / daily.
In simple words, if you just hold $ARB, your share of the total market cap will be ever-increasing. Even if the market cap does not grow (when there are no new investors), the value of tokens in your wallet will still be growing. If there are new investors coming, the value of your tokens will grow even further thanks to your continuously increasing shares with respect to burned supply.
The burning mechanism is used to support the supply of the project, and we decided to utilize this principle with our Burning Chamber. The aim of this mechanism is to remove circulating tokens from the market by sending them to an inaccessible wallet which is called "the dead wallet".
Burning a token means removing it from circulation, which reduces the number of tokens in circulation. This mechanism is used to reverse expanding supply and also to introduce scarcity, which eventually causes the value of the token to increase.
The burning of the tokens can be done in two ways:
- Manually sending it to an unowned BSC address, called a “dead” or “burner” address.
- Or creating a contract that holds such tokens that is unable to spend it. In both cases, the burned tokens are unusable but sending them to the "dead" address proved to be the most secure way to remove such supply from circulation as this wallet does not belong to anyone.
Tokens reserved for burning will be sent to the Burning Chamber: https://bscscan.com/token/0xc877304259931D3D42372aeCD41338C5BB1F4707?a=0x0eCB7C8536A76046bdaC0899de80E9994084EB78 The number of burned tokens can be tracked from here: https://bscscan.com/token/0xc877304259931D3D42372aeCD41338C5BB1F4707?a=0x000000000000000000000000000000000000dead And also you can track all burn transactions from this page as indicated below: