BinaryX Announces Historic Vote to Burn 74% of BNX Tokens

Singapore, July 17th, 2024 – Chainwire

BinaryX, a prominent developer and publisher in the Web3 gaming sector, has announced a community vote aimed at reducing the total supply of its BNX token. This initiative is designed to enhance the token’s scarcity and long-term value for the benefit of the BinaryX community.

Proposed Reduction of BNX Token Supply Cap

BinaryX is encouraging all community members to participate in an important vote that will shape the project’s future. The proposal suggests a reduction of the maximum supply of BNX tokens by 1.62 billion, resulting in a new cap of 580 million. The current game output will remain unchanged, and after reaching the new supply limit, future rewards will be allocated as community incentives from the team’s share.

BNX to Enter New Deflationary Model

The primary motive behind this vote, according to the BinaryX team, is to lower the potential market supply of BNX tokens by removing unminted tokens. This strategy is anticipated to enhance the token’s utility through a significantly reduced supply, paving the way for BNX to adopt a new deflationary model for its holders.

Voting Details and Participation

The BinaryX team will announce the official voting period through their media and community channels. To take part in the vote, BNX holders will need to connect their wallets during the designated voting period and cast their votes.

BinaryX’s Commitment to Transparency

“BinaryX prioritizes transparency throughout the voting process and will disclose the results upon completion,” stated Julio, Head of Growth at BinaryX. “The team is committed to fostering a fair, transparent, and sustainable project for the long term.” The team stressed that community engagement is crucial, as every vote will significantly influence the project’s direction.

About BinaryX

BinaryX is at the forefront of Web3 gaming, focusing on creating captivating and immersive gaming experiences such as Ai Hero and Pancake Mayor. Built on advanced technologies like blockchain and AI, BinaryX offers players the unique opportunity to own in-game assets, take part in decision-making, and explore the true potential of Web3 gaming.

For further inquiries, please reach out to BinaryX through their designated contact.