Unveiling $PPT Token Burn Mechanism, Bestow Greater Value to the $PPT You Hold
May 31, 2024

Unveiling $PPT Token Burn Mechanism, Bestow Greater Value to the $PPT You Hold

Pop Social announces the $PPT Token Burn mechanism to unlock greater value for every $PPT held.

It's an exciting time to be a Pop Token (PPT) holder. Well, it always is, but now you have another reason to be a proud $PPT holder Poppers! At 2:00 PM UTC today, Pop Social is unveiling its $PPT Token Burn mechanism! This means certain $PPT tokens in the Pop Social Ecosystem will be gone forever, thereby giving the $PPT you hold greater value than it once held.

A momentous occasion in the Pop Social journey was announcing the tokenomics of our Pop Token (PPT). To ensure a sustainable tokenomics model, Pop Social partnered with the prestigious Prysm Group to unveil the $PPT sustainability cycle. The latest addition to this sustainable model includes the $PPT Token Burn mechanism.

Let's dive deeper into understanding token burning and what this means for Pop Social, Poppers, and every dedicated $PPT holder and trader.

Understanding Token Burning

In the Web3 and cryptocurrency realm, some blockchains initiate token burns as an essential part of their ecosystem. They do so to bring greater value to their token and their community. In detail, a token burn  feature involves a process where a select amount of an ecosystem's crypto assets (tokens) are permanently removed from the circulating supply. By doing so, the token sees a decrease in its overall supply.

Thus, in the case of the Pop Social Ecosystem, the Pop Token (PPT) boasts a total supply of 200 million $PPT. Once the $PPT Token Burn feature commences, a select number of $PPT will be permanently removed to reduce the total $PPT supply. Overall, this move marks a historic moment for the Pop Social Ecosystem. Poppers will remember a substantial shift in the $PPT supply that brought more value to the Pop Token (PPT).

How Does Token Burning Work on Pop Social?

Pop Social has selected $PPT coming from certain functions and features on the Pop DApp as the amount to be burned during the $PPT Token Burn process. Specifically, all $PPT recycled from Treasure Chest, Level Up, and a few other trivial ecosystem features will be burned.

In particular, for Treasure Chest and Level Up features, we will commence a 100% $PPT burn rate on all previous and future actions with these two features. Prepare to realize more value for every $PPT you hold Poppers. Additionally, you can engage more with these features on the Pop DApp to directly contribute to the $PPT burn rate and bring more value to the ecosystem and our beloved Pop Token (PPT).

$PPT Token Burn Dashboard

The surprises don't end here. Soon, we'll add a $PPT burn tracker to our official webpage so you can see just how much $PPT is being burned as you make your epic rise within the Pop Social Ecosystem. Introducing this feature enhances transparency and user trust in our platform's tokenomics and provides real-time data on $PPT burn activities.

The Dashboard will display data such as the current total supply of $PPT tokens, total number of $PPT tokens burned to date, live acquisition of $PPT for burning (including from Treasure Chest purchases and Level Up activities) displayed over the last 24 hours, pending burns and their equivalent value in USD, and visual representations of token burns using donut charts or gauges with real-time updates. All in all, Poppers will grow accustomed to a familiar dashboard to watch $PPT grow overtime.

As always, Pop Social works with the core intention of empowering our users by providing insight into the deflationary mechanisms of the Pop Token (PPT). Ultimately, the $PPT Burn feature reinforces the value proposition of the Pop Token (PPT) and the Pop Social Ecosystem.

Stay tuned for the $PPT Burn Dashboard release and you can explore live dashboard statistics for $PPT! Until then, the Pop Social Leaderboard Competition: Season 1, is happy to keep you entertained. Climb those ranks and claim your share from a 1 million $PPT pool this season!

Download the Pop DApp:

Apple App Store, Google Play Store