By purchasing $burn and then using a DApp to burn $burn tokens, exchange them for $Build to participate in liquidity mining, earning $BNB dividends. The daily rate can go as high as 2%. Ownership renounced.

What is Burnedfi?​

Burnedfi (BURN) is a cryptocurrency token introduced in 2023, designed to innovate within the blockchain ecosystem. With a total supply of 21,000,000 tokens, Burnedfi incorporates a 1% tax on both buys and sells, incentivizing users to burn the token to mint another token called BurnedBuild. This unique mechanism aims to reduce supply and enhance decentralization through its auto-burn technology.

The project’s auto-burn feature ensures a continuous reduction in token supply, while the limited minting per block and per minute adds an additional layer of scarcity. Mentioned by CZ BNB on Twitter in 2022, Burnedfi has garnered attention within the cryptocurrency community.

Burnedfi offers various use cases, including the ability to trade on multiple exchanges. By purchasing BURN and utilizing a decentralized application (DApp), users can burn BURN tokens to exchange them for BurnedBuild. This process allows participation in liquidity mining, where users can earn BNB dividends, with daily rates potentially reaching up to 2%.

Ownership of Burnedfi has been renounced, further emphasizing its commitment to decentralization. The combination of burning tax, auto-burn technology, and liquidity mining opportunities positions Burnedfi as a noteworthy project in the cryptocurrency landscape.

What is the technology behind Burnedfi?​

Burnedfi (BURN) is a cryptocurrency token that operates on the Binance Smart Chain (BSC), a blockchain known for its high-speed transactions and low fees. The Binance Smart Chain is a parallel blockchain to Binance Chain, designed to enable the creation of smart contracts and decentralized applications (DApps). This dual-chain architecture allows users to transfer assets seamlessly between the two blockchains, enhancing the overall functionality and user experience.

One of the standout features of Burnedfi is its auto-burn technology. This mechanism automatically reduces the total supply of BURN tokens over time, creating a deflationary effect. The auto-burn feature is triggered by a 1% tax on both buys and sells, which means that for every transaction, 1% of the tokens involved are permanently removed from circulation. This process not only helps in controlling inflation but also aims to increase the scarcity and potential value of the remaining tokens.

Security is a critical aspect of any blockchain, and Binance Smart Chain employs several measures to prevent attacks from bad actors. One such measure is the use of a consensus mechanism called Proof of Staked Authority (PoSA). In PoSA, validators are chosen based on the number of tokens they stake, and they are responsible for validating transactions and securing the network. This system combines elements of both Proof of Stake (PoS) and Proof of Authority (PoA), ensuring a high level of security and decentralization.

Burnedfi also introduces an innovative incentive structure for token holders. By purchasing BURN tokens and using a decentralized application (DApp) to burn these tokens, users can mint a different token called BurnedBuild. This process not only reduces the supply of BURN but also allows users to participate in liquidity mining. Liquidity mining involves providing liquidity to decentralized exchanges and earning rewards in the form of Binance Coin (BNB) dividends. The daily rate for these dividends can go as high as 2%, offering a lucrative incentive for participants.

The total supply of Burnedfi is capped at 21,000,000 tokens, with a circulating supply of 14 million at the time of writing. This fixed supply model is designed to create scarcity, which can potentially drive up the value of the tokens as demand increases. Additionally, the project has renounced ownership, meaning that the developers no longer have control over the contract, adding an extra layer of trust and security for investors.

Burnedfi was launched in 2023 and has quickly established a presence in the cryptocurrency community. The project maintains an active online presence through its website, documentation, and a Telegram group, providing resources and support for its users. The community can also stay updated through social media channels like Twitter and X, where the latest developments and announcements are shared.

The technology behind Burnedfi is a blend of innovative features and robust security measures, making it a noteworthy project in the cryptocurrency space.

What are the real-world applications of Burnedfi?​

Burnedfi (BURN) is a cryptocurrency that integrates unique auto-burn technology, reducing its supply every hour. This deflationary mechanism aims to create scarcity, potentially increasing the value of the remaining tokens over time. The auto-burn feature is designed to incentivize holders by making each token more valuable as the supply diminishes.

One of the primary real-world applications of Burnedfi is its use in liquidity mining. By purchasing BURN and utilizing a decentralized application (DApp), users can burn their BURN tokens in exchange for Build tokens. These Build tokens can then be used to participate in liquidity mining, where users earn Binance Coin (BNB) dividends. The daily rate for these dividends can reach up to 2%, providing a tangible financial incentive for participants.

Burnedfi also incorporates a 1% tax on both buys and sells. This tax is part of its deflationary strategy, further reducing the circulating supply and potentially increasing the value of the remaining tokens. The limited supply of Burnedfi adds another layer of scarcity, making it an attractive option for those interested in deflationary assets.

The cryptocurrency has been recognized by top exchanges and has held successful events, indicating a level of community engagement and market acceptance. This recognition can enhance its credibility and adoption, making it more accessible to a broader audience.

Additionally, Burnedfi's fair launch and mint system ensure that no single entity has an unfair advantage, promoting a more decentralized and equitable distribution of tokens. This approach aligns with the broader principles of decentralization and fairness in the cryptocurrency space.

However, the deflationary nature of Burnedfi carries potential risks, such as a deflationary spiral, where the decreasing supply could lead to reduced liquidity and market activity. This aspect requires careful consideration by potential investors and users.

Burnedfi's applications in token burning, liquidity mining, and its deflationary mechanisms make it a notable player in the cryptocurrency market. Its unique features and community recognition contribute to its real-world utility and potential for growth.

What key events have there been for Burnedfi?​

Burnedfi (BURN) has carved a niche in the cryptocurrency landscape with its innovative approach to liquidity mining and community engagement. By purchasing BURN and utilizing a decentralized application (DApp) to burn these tokens, users can exchange them for Build tokens, which then allow participation in liquidity mining and earning BNB dividends. The daily rate for these dividends can reach up to 2%, and the project has renounced ownership, emphasizing its decentralized nature.

One of the significant milestones for Burnedfi was its performance during the bull market, where it surpassed 90% of projects, top tokens, and top communities. This achievement highlighted the project's resilience and growing influence within the cryptocurrency ecosystem.

Another notable event was the "Looking for Diamond Hands" event, which featured lucky draws and rewards. This event aimed to engage the community and incentivize long-term holding of BURN tokens, fostering a loyal and active user base.

The Burnedfi Airdrop was another key event that contributed to the project's growing popularity and value. Airdrops are a common strategy in the cryptocurrency world to distribute tokens and increase awareness, and Burnedfi's airdrop played a crucial role in attracting new users and expanding its community.

Burnedfi's consistent performance in the market, with a steadily increasing price despite fluctuations, has been a testament to its robust fundamentals and strategic initiatives. The project's ability to maintain and grow its value amidst market volatility has been noteworthy.

These events collectively underscore Burnedfi's strategic efforts to build a strong community, enhance user engagement, and maintain a competitive edge in the dynamic cryptocurrency market.

Who are the founders of Burnedfi?​

Burnedfi (BURN) emerges from the innovative minds of John and Chris Bradbury, hailing from Singapore. Their vision centers on creating a deflationary cryptocurrency, a goal they've pursued by implementing a regular token burn schedule. The Bradbury brothers have garnered support and funding from the Singapore startup community, further solidifying their project's foundation. By purchasing BURN and utilizing a DApp to burn tokens, users can exchange them for Build tokens, participate in liquidity mining, and earn BNB dividends. The founders' commitment to transparency is evident in their decision to renounce ownership.