Wojak Finance yet again reaffirms its focus on further expanding the WOJ token burn program. Here’s how it eventually destroys the token supply to preserve its ultra-deflationary design.
Wojak Finance destroys 50% of WOJ: Details
According to the official announcement shared by representatives of Wojak Finance’s team, it proudly continues the process of sending tokens to a “burn” (“destroying”) address.
As all operations of Wojak Finance are 100% on-chain, the process of supply can be tracked through any mainstream Binance Smart Chain (BSC) explorer. As of Oct. 12, 2021, the “Burn Address” account is responsible for more than 52% of the WOJ token supply.
To prove the fact that the process of token destroying is sustainable and step-by-step, Wojak Finance shared the details of transactions’ hashes with their enthusiasts. As such, every user of BSC Scan or a similar service can check it by himself/herself.
Wojak Finance team members emphasize that “burned” tokens have been excluded from the liquid token supply for so long that the process of burning preserves WOJ from losing its value.
As covered by U.Today previously, the decision to increase the speed of the token burn was made by the Wojak Finance team amid the unforeseen spike in retail investors' attention to WOJ.
General-purpose charity token for a new-gen DeFi protocol
WOJ token was recently listed on top-tier centralized exchanges CoinTiger and HotBit. Thus, from early Q4, 2021, Wojak Finance’s native asset can be bought/sold with fiat money.
WOJ is a pivotal element of Wojak Finance’s tokenomics: it is used in multiple liquidity initiatives, community management and so on.
Also, WOJ token represents the instruments of repayment to traders who lost money due to a lack of experience with derivatives and spot trading.