Tamadoge, the web3 games platform, has recently announced an innovative burn program aimed at increasing the scarcity and value of its native token, $TAMA. This comprehensive strategy includes a range of methods such as Mega Burns, Community Burns, and Platform Revenue Burns, all designed to reduce the circulating supply of $TAMA. By implementing this burn program, Tamadoge aims to boost the demand and overall utility of its token.
One of the key aspects of the burn program is to foster community participation. To achieve this, Tamadoge has made the burn schedules and details of each burn type available on its newly launched Tamadoge Burn Portal. By providing transparency and accessibility, Tamadoge encourages token holders to actively engage with the burn program. Furthermore, the Burn Portal keeps a record of the total number of tokens burnt to date, allowing users to track the progress of the burn program.
Tamadoge’s burn program consists of three distinct methods:
Mega Burns
In the fourth quarter of 2023, Tamadoge has planned special promotional events aimed at burning a significant amount of $TAMA tokens. These Mega Burns will attract attention and create excitement among the community, further reinforcing the scarcity of the token.
Community Burns
To involve the community in the burn program, Tamadoge offers a unique opportunity. For every $TAMA token that community members choose to burn, Tamadoge will match it by burning an equivalent amount, up to 5 million $TAMA. This initiative encourages token holders to take an active part in reducing the supply of $TAMA, hence contributing to its increased value.
Platform Revenue Burns
To ensure a continuous reduction in the supply of $TAMA, Tamadoge will convert all revenue generated from its platform sales into $TAMA tokens and burn them. By taking this strategic approach, Tamadoge aligns its revenue generation with the long-term token burning process.
Tamadoge has made it user-friendly for token holders to participate in the burn program. By connecting their wallets and viewing their $TAMA balance, users can easily initiate the burning process. They simply enter the amount of tokens they wish to burn and click the burn button to complete the transaction. However, it’s important to note that users are responsible for paying Ethereum gas fees for these transactions, so it is advisable to choose a time when the network is less congested to minimize costs.
The Tamadoge Burn Portal not only provides access to burn schedules and user burn counters but also serves as a platform for sharing important data points. Token holders can stay updated on the total number of $TAMA burnt, the total burnt by the community, and their individual burn contributions if connected. This transparent approach empowers the community and strengthens their engagement in Tamadoge’s ecosystem.
Tamadoge’s CEO, Jon Bishop, expresses enthusiasm for the burn program, acknowledging the community’s consistent request for increased burning activities. He states, “We’re always looking for ways to bring coin growth and value to the Tamadoge Army, and the team has delivered on that request. The product they have delivered around burning is excellent.” With the burn program in place, Tamadoge stands poised to fulfill the community’s desire for greater token scarcity and value.
In addition to the burn program, Tamadoge has recently introduced a staking feature that allows token holders to earn rewards. To date, approximately 39.7 million $TAMA has been staked, with a staking pool of two million $TAMA tokens allocated for distribution. The rewards are given at a rate of 3 TAMA per ETH block, and token holders have the flexibility to withdraw their staked tokens at any time. The annual percentage yield (APY) varies based on the number of staked tokens, ensuring a dynamic and fair reward system.
Furthermore, Tamadoge has rolled out a new roadmap that promises exciting mystery projects and giveaways in the near future. Alongside the development of these projects, Tamadoge continues to focus on user acquisition in the gaming sector. With six games already launched, including the popular Tamadoge Arena, available on both web and mobile platforms, Tamadoge is well-positioned to cater to the mainstream casual gamer. As the mobile games market continues to grow, Tamadoge’s focus on this market segment, coupled with its native $TAMA token, sets the stage for significant growth in the months and years to come.
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