BinaryX Announces Historic Community Vote to Burn 74% of its BNX Tokens

BinaryX, a prominent developer and publisher of Web3 games, has recently revealed a community vote to decrease the overall supply of its BNX token. This initiative is focused on enhancing the token’s scarcity and long-term value to benefit the BinaryX community.

Proposed Decrease in BNX Token Supply Cap

BinaryX is inviting all community members to actively participate in a significant vote that will shape the project’s future trajectory. The proposal aims to decrease the maximum supply of BNX tokens by 1.62 billion, resulting in a new cap of 580 million. The current game output will stay the same, and the team will give out any future rewards beyond the supply cap as community incentives.

BNX is set to embrace a groundbreaking deflationary model

The team has stated that the main objective of this vote is to reduce the potential market supply of BNX tokens by eliminating unminted ones. This move is anticipated to boost the token’s usefulness by significantly reducing the token supply, enabling BNX to adopt a new deflationary model for its holders.

Details and Participation in Voting

The BinaryX team will announce the official voting period through its official media and community channels. To participate, BNX holders must visit the voting page during the official voting period and connect their wallets to cast their vote.

“BinaryX prioritizes transparency throughout the voting process and will disclose the results upon completion,” says 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 the significance of community involvement, emphasizing that each vote holds weight and will directly shape the project’s trajectory.