200,000 FKX Tokens to be Burned Quarterly as FortKnoxster Announces A New Burning Mechanism
Recently, FortKnoxster has announced that they are beginning 2022 with a new burning mechanism that can make FKX token more deflationary.
They have announced that starting from the first quarter of 2022, more than 200,000 FKX tokens are going to be burned that aims to reduce the supply of FKX tokens in circulation.
This approach is going to be implemented by burning 20% of the income generated from the PRO upgrade.
The burning mechanism that a lot of other projects use can surely increase the price of an FKX token. With the demand for such tokens remaining high and with the supply being reduced, the equilibrium price becomes higher.
This is not done manually, however. Using algorithms, FKX tokens are sent to an eater address that no one has access to. By doing this, those tokens are out of use and never to be recovered again.
🔈 Dear community, we are happy to announce…🔈
🔥🔥🔥🔥🔥🔥 FKX BURNING 🔥🔥🔥🔥🔥
🚀 FortKnoxster becomes deflationary in 2022!!!🚀#Crypto #Suitehttps://t.co/qcLoXBPHi4 pic.twitter.com/BjGflT31bh
— FortKnoxster (@fortknoxster) November 16, 2021
This news was perceived well by the Fortknoxster community as it can surely increase the value of FKX and even move it higher on the market rankings as demand increases.
Also read: FortKnoxster Price Prediction 2021 and Beyond – Is FKX a Good Investment?