β¨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.
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