# Purpose BurnifyApp aim is to change the process of **token burning** through benefits such as providing rewards for participation, enhancing token utility and incentivizing value, fostering ecosystem growth, and promoting scarcity of other project tokens. BurnifyApp was initially developed to facilitate the burning of a single token, MEX, as a proof of concept. This early phase demonstrated the effectiveness of token burning in reducing supply and supporting token value. Building on this foundation, BurnifyApp has expanded its capabilities to support the burning of any token within the MultiversX ecosystem. Instead of seeing token burning as a tedious or purely deflationary act, we make it rewarding and engaging for everyone involved. By participating in token burns, users earn tangible rewards, enhancing the usefulness of their tokens and driving up their value. When you burn tokens with BurnifyApp, you’re not just decreasing supply—you’re also contributing to the growth and vitality of the MultiversX ecosystem. By incentivizing token burns, we encourage users to engage regularly, ensuring that the ecosystem remains dynamic and resilient. This gamified experience not only boosts user engagement but also promotes continuous involvement, which is essential for the sustained growth and stability of the ecosystem. Every participant has an equal opportunity to benefit from the burning process, without any special privileges or allocations. This level playing field builds trust within the community, as everyone can see exactly how the burning process works and how rewards are distributed.
# Fair Launch meaning The Burnify project's team members would not possess privileged access to the token distribution, thereby ensuring a level playing field for all participants. We consider that the following elements would set the $BFY token distribution apart: **No Private Sale.** The $BFY tokens are not subject to any private sale. **No Marketing Allocation.** There would be no allocation of $BFY tokens for marketing purposes. **No Team Allocation.** The team members of Burnify would have no allocation of $BFY tokens. **No Treasury Allocation.** There would be no allocation of $BFY tokens to a treasury. Central to our **Fair Launch Philosophy** is the **Proof of Burn Mechanism.** Proof of Burn is a fundamental principle where new $BFY tokens are generated only when existing tokens are burned. This process ties the creation of new tokens directly to the active participation of users in reducing the overall token supply. * By requiring users to burn tokens to receive new $BFY tokens, the supply of $BFY is intrinsically linked to community engagement. * Every burn transaction is recorded on the blockchain, providing clear and verifiable proof of burn. * As new $BFY tokens are minted based on the number of tokens burned, all participants have an equal opportunity to earn rewards proportional to their contributions. # Tokenomics The $BFY token has a total supply of **5,010,000**. **This supply is fixed, with no plans for additional $BFY tokens to be generated.** \ \ All 100% of $BFY are minted and distributed exclusively through community-controlled burning processes described in this Litepaper or other relevant documentation. This is why $BFY holds the role of representing the proof of burn principle within our ecosystem.
# How it works

How it works

## Basics BurnifyApp operates on a cycle-based system, with each cycle lasting approximately 24 hours. During every cycle, a predetermined amount of $BFY tokens is minted. The initial cycle begins with the minting of 10,000 $BFY tokens, decreasing by 0.2% with each subsequent cycle. For example, the first day mints 10,000 $BFY, the second day 9,980 $BFY, and so forth, reaching around 5,000 $BFY by the 365th day and eventually tapering off to zero around the 22,630th day. * The process is designed to happen in cycles. Every cycle would take \~24 hours. * Every cycle a fixed quantity of $BFY is set to be minted. 1st day should start with 10,000 and decrease by 0.2% every cycle. * *1st day: 10 000 $BFY 2nd day: 9 980 $BFY ... 365th day: 5 000 $BFY ... \~22630th day: 0 $BFY* ### How to get **$BFY** To acquire $BFY tokens, users must send at least one batch to the Smart Contract within a cycle. Each batch requires a total contribution of 0.03 $EGLD, split as follows: {% hint style="info" %} 1 batch = 0.03 $EGLD in total 1 batch = 0.015 $EGLD + 0.015 $EGLD in $MEX/$ONE/etc {% endhint %} ### $**BFY** Cycle distribution At the end of each cycle, the Smart Contract should distribute the allocated $BFY tokens proportionally based on the number of batches each user has contributed. For instance, on the first day, 10,000 $BFY should be distributed to participants who have sent batches. The maximum number of batches allowed per user is set to 10,000. $$ UserRewardsCycle = TotalRewardsCycle \* UserBatchesNb/TotalBatchesCycle \* 90% $$ ### $MEX & other tokens There could be more tokens listed in Burnify alongside $MEX. \ \ BurnifyApp supports the burning of multiple tokens within the MultiversX ecosystem, including but not limited to $MEX, $ONE, $JEX, $RARE, $XLH, $CPA, $BSK, $XBID, $UPARK, $XBONK, $HYPE, $CTP, $ESTAR, $BHAT, $SFIT, $XAPES, $AERO, $PADAWAN, $ZPAY, $KRO, etc. At the end of each cycle, all tokens except $EGLD should be burned through their corresponding Smart Contracts, ensuring effective supply reduction. * At the end of every cycle, all these tokens except $EGLD should be BURNED by means of the corresponding Smart Contract.
### Slippage Users should have the option to set a slippage percentage when creating batches to account for token price fluctuations. The target peg for tokens is 0.015 $EGLD per batch. For example, if a user sets a slippage of 1% and attempts to burn 88 $ONE tokens, the Smart Contract should require 88.88 $ONE. If the price of $ONE fluctuates beyond the set slippage during the transaction, the batch should fail. Otherwise, any excess tokens beyond the slippage tolerance should be returned to the user. Example: 1 batch = 0.015 $EGLD + 88 $ONE Slippage set to 1%: user will send 0.015 $EGLD + 88.88 $ONE. ### **EGLD** All $EGLD contributions in a cycle should be pooled and distributed as follows: * 90% should be distributed proportionally to all cycle participants who are staking $BFY. * 5% should be allocated for administrative costs, including team expenses, marketing, design, hosting, new feature development, operations, partnerships, and reserve funds. * 5% should be allocated to BUFU NFT strength holders. ### Claiming rewards ($**BFY**) At the end of each cycle, $BFY tokens assigned to a user should be automatically staked within the protocol. If a user chooses to claim their $BFY tokens, they will no longer generate protocol fees ($EGLD) for the current and subsequent cycles. To resume earning $EGLD rewards, users must re-stake their $BFY tokens. * There is no lock or unbonding period required for claiming $BFY. {% hint style="info" %} There is **NO** lock/unbonding period for claiming **$BFY.** {% endhint %} ### Claiming Protocol Fee ($EGLD) All rewards earned through protocol fees ($EGLD) would be available for withdrawal at any time, allowing users to access their earnings as needed. ### Staking $**BFY** * Unclaimed $BFY tokens would be automatically staked within the protocol, so the process of claim -> stake can be deemed redundant. * Claimed or unstaked $BFY tokens need to be staked back into the protocol in order to be able to receive further rewards. * In order to avoid flash loans, after staking $BFY, it was settled that the users wouldn't be able to withdraw $BFY tokens for the current cycle and the next cycle, but they would still generate protocol rewards. ## Why burn tokens and join the process? Participating in the token-burning process would offer a range of benefits for users and the ecosystem: **Earn rewards**: Users receive $BFY tokens and $EGLD rewards for their contributions further generating locking benefits.\ **Provide a burning service:** Burning project tokens in exchange for fairly determinable amounts of $BFY tokens can provide desirable benefits for some users. In addition, for those who would still hold that respective project token, this may enhance its scarcity. **Foster ecosystem growth:** The process would encourage long-term commitment, promoting a healthy and robust community that can contribute based on an outstanding concept to the $BFY token's success within the Web3 environment.\ **Support scarcity of your project tokens:** By removing tokens from circulation, burning can help maintain the overall value and relevance of the project tokens. **Incentivize engagement:** The process may attract users to actively engage each cycle, driving further growth and adoption. **Promote sustainable growth:** By managing token supply and distributing rewards, the process encourages sustainable growth, benefiting the ecosystem in the long run. **Claim $BFY:** At any point, you would have the option to claim your $BFY tokens and trade them on a DEX.
# Example The following example demonstrates how the BurnifyApp protocol operates over three consecutive days: ⦿ *Alice joins on Day 1* ⦿ *Bob joins on Day 2* ⦿ John joins on Day 3 \ \ **Day 1** **Participants:** Alice. **Contribution:** Alice contributes 100 batches (15 $EGLD + 90,000,000 $MEX). **Total $BFY Minted:** * 10,000 $BFY. **Rewards:** * **Alice:** 10,000 $BFY (10,000 $BFY \* (100/100)). * Alice's $BFY tokens would be automatically staked. * **EGLD Pool:** * 15 $EGLD in the pool. * Alice receives 13.5 $EGLD (90% of 15 $EGLD). * 1.5 $EGLD would be split between the team (administrative costs) and BUFU NFT strength-stakers 90,000,000 $MEX would be burned. *** #### **Day 2** **Participants:** Bob. **Contribution:** * Alice contributes 0 batches. * Bob contributes 50 batches (7.5 $EGLD + 45,000,000 $MEX). **Total $BFY Minted:** * 9,980 $BFY. **Rewards:** * **Alice:** No BFY rewards. * **Bob:** 9,980 $BFY. **EGLD Pool:** * 7.5 $EGLD in the pool. * Participants share 6.75 $EGLD (90% of 7.5 $EGLD). * 0.75 $EGLD would be split between the team (administrative costs) and BUFU NFT strength-stakers. Rewards distribution based on staking: * **Alice:** 6.75 $EGLD \* (10,000 / (10,000 + 9,980)) = 3.37538 $EGLD. * **Bob:** 6.75 $EGLD \* (9,980 / (10,000 + 9,980)) = 3.37462 $EGLD. 45,000,000 $MEX would be burned. *** #### **Day 3** **Participants:** John. **Contribution:** * Alice contributes 0 batches. * Bob contributes 0 batches. * John contributes 33 batches (4.95 $EGLD + 29,700,000 $MEX). * **Total $BFY Minted:** (assuming a 0.2% decrease from Day 2) \~9,960.2 $BFY. **Rewards:** * Alice: No BFY rewards * Bob: No BFY rewards * **John:** \~9,960.2 $BFY. **EGLD Pool:** * 4.95 $EGLD in the pool. * Participants share 4.455 $EGLD (90% of 4.95 $EGLD). * 0.495 $EGLD would be split between the team (administrative costs) and BUFU NFT strength-stakers. Rewards distribution based on staking: * **Alice:** 4.455 $EGLD \* (10,000 / (10,000 + 9,980 + 9,960.2)) = 1.48502 $EGLD. * **Bob:** 4.455 $EGLD \* (9,980 / (10,000 + 9,980 + 9,960.2)) = 1.48486 $EGLD. * **John:** 4.455 $EGLD \* (9,960.2 / (10,000 + 9,980 + 9,960.2)) = 1.48512 $EGLD. 29,700,000 $MEX would be burned. *** ### **After 517 days (and note that this number of days isn't arbitrary):** Let's assume that Alice, Bob, and John DO NOT participate in the protocol anymore, so they would still have a fixed supply of $BFY (10,000 / 9,980 / 9,960.2 respectively). Additionally, let's presume that every day, there will be at least 10 batches from all users, totaling 1.5 $EGLD + 9,000,000 MEX per cycle. During each cycle, new $BFY tokens are issued into circulation. Given these assumptions, after 517 days, the staked $BFY amounts of Alice, Bob, and John would represent less than 1% of the total $BFY in circulation, causing their rewards to diminish as time progresses. At this point, the circulating $BFY would be approximately 2,994,020.2 $BFY. ### Key Points * Each cycle should last approximately 24 hours. * A fixed quantity of $BFY should be minted each cycle, starting at 10,000 $BFY on Day 1 and decreasing by 0.2% daily. * Users should contribute at least one batch per cycle to earn $BFY. * EGLD Pool Distribution: 90% of $EGLD contributions should be distributed to stakers, 5% should cover administrative costs, and 5% should go to BUFU NFT strength holders. * All contributed tokens, except $EGLD, should be burned at the end of each cycle. * $BFY rewards should be automatically staked unless claimed, which stops further $EGLD rewards until re-staked. * Over time, initial participants’ influence should diminish as the circulating supply increases through ongoing contributions and burns. # The NFT Collection - BUFU
**About the Collection** The BUFU NFT collection would serve as an additional reward mechanism within Burnify.App. It's designed so that 50% of the Burnify protocol fee would be directed towards this collection. #### Earning Rewards * **Gaining Strength:** Creating a batch would increase strength by 2. For example, making 5 batches would grant 10 strength. * **Losing Strength:** * Unstaking one or more NFTs would halve your accumulated strength. For each NFT, your strength is halved. * Not making any batches for 4 consecutive cycles would decrease strength by 3 for each missed cycle. #### Special Notes on NFT Strength * **Unstaking Impact:** Unstaking an NFT would reduce its strength by 50% (rounded down). For instance, an NFT with 9 strength would have 4 strength when unstaked. * **Inactivity Penalty:** * Unstaking an NFT with 3 days of inactivity would result in an immediate 50% drop in strength, followed by a loss of 3 strength per day after an additional 2 days. * An NFT's strength would also decrease by 2 if it remains inactive for 4 cycles. # Implemented features ## :white\_check\_mark: Boost option for other projects If a project has it's token listed in the Burnify protocol, they may have the option to boost $EGLD rewards for the users sending batches with their token. ## :white\_check\_mark: Discounted Tokens Only users who create batches in the current cycle with the tokens listed in the boosted tokens will share in the EGLD rewards. The reward each user receives depends on the number of batches sent. These rewards will be airdropped (around 7 PM UTC after the cycle ends) and are additional rewards! They do not impact the protocol rewards (from the Rewards tab). ## :white\_check\_mark: Swap & Burn Users have the option to create batches even if they don't have the specific token they intend to burn. For instance, if a user possesses only EGLD in their wallet, they simply need to determine the number of batches they want to create and select the token they wish to burn. The conversion from EGLD to the chosen token for burning will be facilitated through the JEX aggregator, known for providing the most competitive rates on MultiversX. ## :white\_check\_mark: DAO Governance After the main features of the protocol going live, we're planning on building a DAO, so that users may vote exclusively on technical developments of the project and possibly, for example, which tokens should/shouldn't join the protocol. ## :white\_check\_mark: Discounted tokens Token discount means that if 1 batch = 0.15 EGLD + 100 $BFY and there is a discount of 50%, you will send 50 $BFY and the other 50 $BFY will be taken from the buffer. ## :white\_check\_mark: BUFU NFT Collection Enabeling another stream of rewards. Own a BUFU and a piece of Burnify Forever. Maximum number 666, Half of the protocol fee would go to NFT strength-stakers ## :white\_check\_mark: Predictions A skill-based interactive module where users analyze and predict whether the number of batches in the current cycle will exceed or be less than the previous cycle, based on data analysis and market trends. How it works:\ Add BFY, then select "Lower" or "Higher" number of batches After the cycle ends, winners get the #BFY from the losing side (95% of the #BFY invested from the losing side goes to the winners, and distributed proportionally) Users can join until 70% of the previous cycle's batches are met, or until 2h before cycle ends If the user does not hold any BFY, they can use swap & predict: Use #EGLD instead of #BFY ## :white\_check\_mark: Leaderboards This is the leaderboard for staked BFY on BurnifyApp, updated every 2 hours. Users will be able to see their overall position in the protocol ## :white\_check\_mark: Profile In the Profile section, users can view their $BFY rewards under the BUFU rewards category, which includes Staked $BFY. Additionally, within this Profile section, users have the option to select the guild they wish to join. ## :white\_check\_mark: bFuel BFY was launched as a fair-launch (no team allocation). To obtain BFY, everyone had to buy or burn. The team invested the majority of funds into building liquidity, and ensuring price sustainability. To support this effort, Burnify created bFuel, which allows the community to contribute to the liquidity pool. This initiative has helped grow the liquidity to approximately $110k (5x increase). bFuel serves as a reward mechanism designed to incentivize users who contribute liquidity to the BFY token, promoting the protocol’s growth and stability. ## :white\_check\_mark: NFT Burn Following the same principle as token burn, the burning value of an NFT is calculated based on a formula around the floor price. This ensures fair and consistent valuation during the burn process.
# Roadmap On this page, we list some of the features that we have in discussion to be implemented. {% hint style="warning" %} Nothing from this page is a guarantee that will be developed! We are discussing each topic and prioritize depending on multiple factors. (community adoption, market conditions, etc.) {% endhint %} ## ⏳ Guilds ## ⏳ BUFU Wars ## ⏳ Burnify Merch ## ⏳ Burnify V2 - New UI and Redesign & Rebranding. ## ⏳ Redesign the Boost & Discount Modules ## ⏳ Claim-Swap & Stake Through Top Aggregators ## ⏳ Burnify Cross-Chain ## ⏳ Burnify Sattelites ## ⏳ $BFY Buy-Back mechanisms ## ⏳ Axelar Network Integration ## ⏳ Burnify Game # FAQ ## 1. Are you involved in the launchpad or sale of any $BFY tokens? **NO!** We are not related to any launchpad or private sale of any $BFY tokens. The only way to generate $BFY is by participating to the protocol. Any $BFY that exists, is the "proof of burn" minted from the protocol. It can't come out of thin air. In order to acquire $BFY tokens, you have to participate in at least one cycle of the Burnify protocol, by sending at least 1 batch. The token is envisaged to be listed on DEXes later on and you would be able to buy it, but NOT generate it. You would buy someone else's proof of burn. ## 2. What is Burnify? Burnify is a new gamified mechanism in the MultiversX ecosystem meant to allows users to actively participate in the token burning process and earn rewards through the $BFY token. ## 3. What fair launch means? Burnify project's team members do not possess privilege access to the token distribution. There are no private sales, marketing allocations, team allocations, or treasury allocations. This ensures a level playing field for all participants to get their hands on $BFY. Tokenomics: 5,010,000 $BFY tokens. 100% would be minted through the process of burning. ## 4. How does the burning process work? The burning process is set to occur in cycles, with each cycle lasting approximatevly 24 hours. In each cycle, a fixed quantity of $BFY tokens would be minted, starting from 10,000 tokens on the first day and decreasing by 0.2% each cycle. Users may acquire $BFY tokens by sending at least 1 batch into the protocol during a cycle. ## 5. How are $BFY tokens distributed in a cycle? At the end of each cycle, the protocol is designed to distribute $BFY tokens allocated for that cycle to participants proportionally based on the number of batches they've sent. The maximum number of batches allowed per user is 10,000. ## 6. What happens to the $MEX/$ONE and $EGLD tokens? At the end of every cycle, all $MEX/$ONE/$other project's tokens would be burned. The $EGLD tokens sent by users during each cycle go into a pool and would be distributed as follows: 90% would go proportionally to all cycle participants and $BFY stakers 10% would go to the team for administrative costs and development. ## 7. How can users claim their rewards? After a cycle ends, the $BFY tokens assiged to a user are projected to be automatically staked in the protocol. Users may choose to claim their $BFY tokens, but doing so would stop the generation of protocol fees ($EGLD). To start earning $EGLD again, users would be required to stake their $BFY tokens. There would be no lock/unbonding period for claiming $BFY. In order to avoid flashloans, after staking $BFY tokens into the protocol, please note that users they won't be available for withdraw for current and next cycles! ## 8. Why should I participate in the burning process? Participating in the token burning process would offer several benefits, including earning rewards in the form of $BFY tokens and $EGLD, providing a burning service, fostering ecosystem growth, supporting scarcity of your project tokens, incentivizing engagement, promoting sustainable growth and the potential for compounding earnings over time. ## 9. Are there any future plans? Yes, we have a lot of features to implement, but we have to discuss all of them thoroughly in order to not disturb the main mechanism. We'll update the [Roadmap section](/overview/roadmap) constantly, please check them there. ## 10. What if there are no batches sent in a cycle? Even if we consider this case as very unlikely, if there aren't at least 1 batch sent during a cycle, $BFY tokens would not be issued for that particular cycle. It is essential to maintain $BFY tokens linked to the proof of burn concept. No burn, no tokens. That simple. ## 11. It looks like an MLM or a Ponzi scheme. Burnify is not a Ponzi, not a MLM scheme. It does not rely on new participants in the Burnify ecosystem. The protocol is designed to reward active participants based on their contributions to the burning mechanism. In time, the rewards diminish for users that do not participate. If the first participants do not contribute to the protocol, their rewards would decrease constantly and will end up under 1%.\ If in the 1st day a user may have 100% of "reward power", the next day that would decrease up to 50% and the 3rd day even lower, as there are new tokens minted into circulation and available for anyone. MLMs involve a pyramid-shaped commission structure where participants earn rewards primarily by recruiting new members into the system. In contrast, Burnify focuses on token burning, staking and rewards users for their active participation in the protocol. The rewards in Burnify are generated from tokens contributed by users and do not rely on new member's contributions or recruitment. It is seen as a sustainable ecosystem based on participation rather than a recruitment-based model. ## 12. Will early participants have an advantage? Don't you wish to buy Bitcoin in 2009 or MultiversX/$EGLD (ex Elrond/ERD) on [Binance's launchpad](https://www.binance.com/en/support/announcement/introducing-the-elrond-erd-token-sale-on-binance-launchpad-360029716271) when it first launched? In the same time, there are cases where the price from the launchpad was higher than the price it had on a DEX/CEX. The market does what the market does.\ \ Regarding Burnify, a user joining on a later day, such as the 3rd day, may have the same "reward power" as a user who joined on the 1st day. The distribution of rewards is conceived as proportional to the number of batches sent. You can check the [examples ](about:blank)from the lite paper for more details If you have any other questions, please contact us here: ## 13. What is the BUFU NFT Collection? The BUFU NFT Collection is an integral part of the BurnifyApp ecosystem. It serves as an additional reward mechanism where 50% of the Burnify protocol fee is allocated to BUFU NFT strength holders. Owning a BUFU NFT grants holders a share of these protocol fees based on the strength of their NFTs, providing an extra incentive for participation and support within the BurnifyApp community. ## 14. How does staking $BFY work? Staking $BFY tokens involves locking them within the BurnifyApp protocol to earn rewards in the form of $EGLD. Unclaimed $BFY tokens are automatically staked, ensuring continuous reward generation. If users choose to claim their $BFY tokens, they must re-stake them to resume earning $EGLD rewards. There is no lock or unbonding period required for staking or re-staking $BFY tokens.
## 15. How secure is the BurnifyApp protocol? BurnifyApp prioritizes the security of its users and the integrity of the protocol. All Smart Contracts are thoroughly tested and audited to identify and mitigate potential vulnerabilities. Additionally, the decentralized nature of the protocol, combined with transparent operations, ensures that all transactions and token distributions are secure and verifiable on the blockchain. Users are encouraged to follow best security practices, such as safeguarding their private keys and using reputable wallets.
## 16. What wallets are compatible with BurnifyApp? BurnifyApp is compatible with a range of MultiversX-supported wallets that allow users to interact with Smart Contracts and manage their $BFY tokens. Users should ensure they are using a compatible wallet that supports token staking and DEX trading to fully participate in the BurnifyApp protocol. Detailed instructions and recommended wallets are available on the BurnifyApp website and documentation.
## 17. How does BurnifyApp handle token price fluctuations? BurnifyApp incorporates a slippage mechanism to account for token price fluctuations during batch creation. Users can set a slippage percentage to determine the acceptable range of price movement. If the price of a token exceeds the set slippage during a transaction, the batch will fail to protect users from unfavorable price changes. Any excess tokens beyond the slippage tolerance will be returned to the user, ensuring fair and transparent transactions.
## 18. What support is available if I encounter issues? BurnifyApp offers comprehensive support to assist users with any issues or questions they may encounter. Users can reach out to the BurnifyApp support team through the official Telegram channel or consult the detailed documentation available on the BurnifyApp website. The community-driven support system ensures that users receive timely and effective assistance.
## 19. Can I participate in multiple cycles simultaneously? Yes, users can participate in multiple cycles by contributing batches in each cycle independently. However, each cycle operates on a 24-hour basis, and contributions are tracked per cycle. Users must ensure that their batches are sent within the designated cycle timeframe to be eligible for $BFY rewards and participation in that specific cycle.
## 20. How are administrative costs managed? A portion of the $EGLD contributions, specifically 5%, is allocated to cover administrative costs. These costs include team expenses, marketing, design, hosting, new feature development, operations, partnerships, and reserve funds. This allocation ensures the continuous development and maintenance of the BurnifyApp platform, supporting its growth and sustainability. If you have any further questions or need additional clarification, please refer to the relevant sections of the litepaper or contact the BurnifyApp team directly through .
# Suggestions To enhance your overall **Burnify** experience, we suggest the following: * Claim your **$EGLD** from the protocol daily. * **Don't** burn ALL your tokens from a project. # Disclaimer This Litepaper does not constitute any investment advice, financial advice, trading advice, or recommendation made by the issuer, nor by its affiliates, executives, agents, advisors, or consultants, nor should it be relied upon in connection with any contract, holding or purchasing decision. WE DO NOT OFFER ANY INVESTMENT OR FINANCIAL ADVICE. ANY REFERENCE DISPLAYED IN THIS LITEPAPER IS MENTIONED ONLY FOR INFORMATIVE PURPOSES. Any approximation, value or estimation available in this Litepaper is purely made for informative or explanation purposes and does not constitute a promise or guarantee. As a rule of thumb, the digital products presented herein are available to and must be accessed only by persons who are in full civil capacity according to their national regulation. Considering that all the information mentioned in this Litepaper are part of an innovative project, we cannot and do not guarantee the success of achieving to develop any of the services or features thereby presented, their accuracy, applicability, reliability, integrity, performance, or appropriateness. Furthermore, we shall not be liable for any loss or damage that may be caused directly or indirectly by your use of these contents. All readers are recommended to exercise a high level of prudence and responsibly assume decisions within their own capabilities, on their own risk. Not a sale of security This Litepaper does not constitute a prospectus or financial service offering document and is not an offer to sell or a solicitation of an offer to buy any security, investment products, regulated products, or financial instruments in any jurisdiction. The $BFY token is not being structured or sold as securities. Furthermore, owners of these digital assets are not entitled to any rights in connection to the issuer company or any of its affiliates, including any equity, shares, units, profit, returns, or direct income, nor or any other company, intellectual property or ownership in that connection. In the long way, the main purpose of the $BFY token is to create stimulating possibilities for users to adequately interact with a specific Web 3.0 digital environment. These fungible tokens are therefore intended to offer access to digital and digitally connected products and services which can be released by means of the relevant ecosystem, and thus made available to engage therewith on the dedicated blockchain(s). Furthermore, the issuer aims to create utility tokens based on a blockchain model, that gives holders access chiefly to non-financial intrinsic services and products, meant to pave the way of providing burning services for cryptocurrencies within the MultiversX ecosystem in a manner which would fit the trends of the future. None of these digital items do not offer direct access to any shareholding structure, nor similar rights, obligations or benefits. The functionalities of the $BFY token can be adapted or extended, depending on the evolution of the relevant ecosystem, in all cases without making concessions as to their exclusive utility character. Furthermore, the $BFY tokens are not covered by the investor compensation schemes under Directive 97/9/EC of the European Parliament and of the Council, nor by the deposit guarantee schemes under Directive 2014/49/EU. No representations No representations or warranties have been made to the recipient of this Litepaper or its advisers as to the accuracy or completeness of the information, statements, opinions or matters (express or implied) arising out of, contained in or derived from this Litepaper or any omission from this document or of any other written or oral information or opinions provided now or in the future to any interested party or their advisers. The $BFY token as envisaged in this Litepaper is under development and they are being constantly updated, including but not limited to key functional and technical features. If and when the $BFY token and its corresponding features would be deemed completed, they may differ significantly from the description set out in this Litepaper. Possible risks Purchasing or making use of any kind of digital items entails some risks and may lead to a loss of the money involved. Prior to purchasing, selling, holding, using or making use of any $BFY tokens you should carefully assess and take into account the risks, including those listed in any other relevant documentation. A purchaser should not acquire any $BFY tokens based on speculative or investment purposes. Purchasers should only purchase any cryptocurrencies referred to herein if they fully understand the nature thereof. Hence, a purchaser shall always priorly accept the inherent risks associated with any damage or loss which may thereby occur, including as to the use of digital procedures, applications and/or assets used in order implement a purchase decision. You shall always consider that this project was conceived as futuristic at the publishing date of this Litepaper, being based on emerging and specialized or niche technologies. Most of these technologies and features have still not been tested enough so that reliable lessons could be clearly drawn from practice, and at the same time the relevant ecosystem promotes even more innovative use cases for such digital assets. Challenges accordingly assumed, we do not promise nor guarantee any results, but merely advise you to exercise a high degree of caution, proper research and risk assumption whenever you desire, plan or intend to access platforms, to acquire or, depending on the case, receive digital assets (including $BFY tokens) and/or use any services related to the project presented throughout this Litepaper. Please note that the $BFY tokens or other cryptocurrencies referred to herein may not always be transferable or may not be liquid. Furthermore, they may not be exchangeable against the good or service promised in this Litepaper, especially in the case of a failure or discontinuation of the project contemplated herein. PLEASE TAKE INTO CONSIDERATION THAT THE VALUE OF ANY FUNGIBLE OR NON-FUNGIBLE TOKEN, AS WELL AS OF ANY CRYPTOCURRENCY ON THE OPEN MARKET MAY CHANGE BY +/- 100% EVERY SECOND BY REFERENCE TO THE ACQUISITION PRICE OR BY REFERENCE TO ANY PREVIOUS VALUE.
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# Official links *Please be aware of other links/projects that are NOT related to us in any shape or form!* *We will **NOT** have any presale/private-sale/launchpad... as stated in* [*this section*](/overview/fair-launch-meaning)*. If you see any things like that, **IS NOT US!*** Token identifier: [BFY-8344ff](https://explorer.multiversx.com/tokens/BFY-8344ff) [Telegram](https://t.me/Burnify) | [Twitter](https://twitter.com/BurnifyApp) | [dApp](https://burnify.app/)