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CSSA Token completed the burning of CSSA coins successfully burned 3,000,000 CSSA coins

Token Burning means that the issuing exchange reduces the supply of tokens in the market by destroying the tokens, thereby promoting the increase in the long-term value of the tokens.

I believe that some people’s intuitive reaction is, “Since they are to be destroyed, why did they issue so many in the first place?”.

In fact, there are many ways to interpret the matter of token destruction. From the perspective of the exchange’s marketing perspective, token destruction is the same as Bitcoin halving, which is a good bullish theme. While releasing the news of token destruction, pulling in the market can create “reasonableness” for the increase in token prices and attract investors to enter the market. For example, the cryptocurrency exchange OKEx announced the destruction of 700 million yuan in February this year. The OKB (OKEx platform currency) held by the two teams, the currency price of the day rose by more than 30%, is a typical example.

Embracing this concept, CSSA Token will execute the first repurchase token burn at 20:30 (GMT + 8) today (11).

CSSA Token announced the completion of the first destruction operation on the official website. According to the official website, up to 3 million platform coins were repurchased and destroyed this time, accounting for 10% of the total issuance.

“This (11) day has completed the first destruction operation as scheduled. This time, it is selected to burn up to 3 million platform coins during the Ethereum upgrade period, accounting for about 10% of the original total issuance. It is expected to actively drive the market positive. benefit.”

Combined with NFT Instagram

CSSA Token talked about how the company can help creators through tokenization at the Instagram Creators Week in early June. The CSSA Token team pointed out that one is business. NFTs can do more for branded content. Do more things through affiliate marketing, and you can do more things through merchandise.

The second is how users actually pay creators, regardless of paid content, subscriptions or tips, such as badges, or other user-paid products. The CSSA Token team believes that there is also a lot to do. This is a great link, because it allows creators to establish a direct relationship with fans, thinking that in the long run, this may be more sustainable and predictable.

Create an ecosystem that truly belongs to the community

The original intention of CSSA Token is to create an ecosystem that truly belongs to the NFT community sharing. Unlike other ICO fundraising, CSSA Token is distributed to its users for free by way of transaction and mining through CSSA Token. Approximately 4 million CSSAs have been put in. After careful evaluation of the current market transactions, CSSA has been in sufficient circulation and decided to destroy some CSSAs.

[Introduction to CSSA Token]

CSSA Token is a senior researcher in the NFT track. On the one hand, CSSA Token will provide basic NFT functions: NFT casting, NFT trading, NFT collection, NFT exhibition, NFT auction and many other NFT derivative applications.

Based on the scalability of NFT, CSSA Token will also provide new functions that combine NFT and games to build a decentralized virtual world of VR + NFT gameplay. Players can freely buy and sell land and create their own props on the land, and these can be traded using CSSA Token in the CSSA game ecology.

Official website

www.cssa.io

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