Singapore, Singapore, July 17th, 2024, Chainwire.
BinaryX, a prominent developer and publisher specializing in Web3 games, has unveiled plans for a community referendum aimed at reducing the total supply of its BNX token. This strategic move is intended to bolster the token’s scarcity, thereby enhancing its long-term value for the BinaryX community.
Proposal to Decrease BNX Token Supply Cap
BinaryX has initiated a significant community vote to chart the course ahead for the project. The proposal advocates for a reduction in the maximum supply of BNX tokens by 1.62 billion, thereby establishing a new cap set at 580 million tokens. The current gaming output will remain unaffected, with future rewards post-cap being distributed as community incentives sourced from the team’s allocation.
BNX Embraces a Deflationary Model
As explained by the team, the primary objective behind this initiative is to curtail the potential market supply of BNX tokens by eliminating unminted tokens. This action is anticipated to augment the token’s utility through a substantially reduced supply, thereby positioning BNX within a new deflationary paradigm for its holders.
Voting Process and Participation
The official voting timeline will be announced through BinaryX’s official media and community channels. To participate, BNX holders must visit the designated voting page during the specified period and connect their wallets to cast their votes.
Commitment to Transparency by BinaryX
“Transparency is paramount throughout the voting process,” stated Julio, Head of Growth at BinaryX. “We are dedicated to fostering a fair, transparent, and sustainable project for the long haul.” The team underscores the significance of community involvement, emphasizing that each vote holds sway over the project’s trajectory.
About BinaryX
BinaryX stands at the forefront of Web3 gaming platforms, dedicated to crafting immersive and captivating gaming experiences such as Ai Hero and Pancake Mayor. Operating on the BNB Chain, BinaryX harnesses cutting-edge technologies like blockchain and AI to offer players exclusive opportunities to own in-game assets, participate in decision-making processes, and explore the full potential of Web3 gaming.
For further information about BinaryX, please visit www.binaryx.pro. Updates and insights about BinaryX can also be found on various social media platforms:
BinaryX | Twitter | Discord | Telegram | YouTube | Medium
Contact Information
For press inquiries, contact BinaryX at [email protected].
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