How it works
Let's look at burning from two angles — how it is done technically and how it affects the economics.
1
BURNed TOKENS are sent to a special wallet
Once MY SEVEN tokens have reached this wallet they cannot be used anymore.
2
the fewer tokens the higher token price
The final number of MY SEVEN tokens does not increase. Therefore with fixed demand the smaller the number of MY SEVEN tokens in circulation, the higher the price of each token.
when we burn MY seven tokens
We have regular mechaniсs in our economics to remove tokens from circulation to boost their value.
Tokens burned on trading
On trading tokens are being burnt:20% of the platform's total revenue in tokens.surplus from the regular trading rewarding.
Tokens burned on Platform events
On platform events tokens are being burnt when certain events happen on the MY SEVEN Platform, e.g. New Year celebration.
Tokens burned on App activity
The surplus of tokens on app activity reward are being burnt.
Tokens burned on Jackpots
The surplus of tokens on Jackpots and other marketing activities are being burnt.
Tokens burned on Partners’ events
On partners’ events tokens are being burnt when certain events in their apps, such as when the millionth user from that сelebrity signed up.
HOW MUCH tokens have been burnt ALREADY
Check out the statistics on tokens that have been burnt to make your income grow.
