🔥Auto - Burn

Autoburning of Bonfire tokens is a mechanism designed to automatically remove a fixed percentage of each buy and sell transaction from circulation. In the case of Bonfire, this percentage is typically set at 2%. When users buy or sell Bonfire tokens, 2% of the transaction amount is permanently burned, meaning those tokens are irreversibly eliminated from the total supply.

This autoburning mechanism serves several purposes within the Bonfire ecosystem. First and foremost, it helps to reduce the token supply over time. As tokens are continuously burned with each transaction, the overall circulating supply gradually decreases, which can create scarcity and potentially increase the value of the remaining tokens.

Furthermore, autoburning can help to address issues such as token inflation or excessive supply, which can negatively impact the token's price stability. By removing a portion of the tokens from circulation, the autoburning mechanism aims to create a deflationary effect, potentially contributing to a more sustainable and balanced token economy.

It's worth noting that the exact percentage and implementation of the autoburning mechanism may vary depending on the specific design choices of the Bonfire project. It's important for users and investors to refer to the official documentation or project resources to understand the precise details of how the autoburning mechanism is configured in the Bonfire token contract. Adress Zero: https://etherscan.io/token/0xfc4eb70fc13f5f25f67938cd4249b8c450e50c3c?a=0x0000000000000000000000000000000000000000 At the time of writing, 16.5% of the Total $BONFIRE token supply has been burned up