In order to protect your investment and to ensure that the value of our token stabilize, we will be using a process called Cryptocurrency Burning.
Cryptocurrency Burning is the process of removing tokens (also called coins) from circulation, which reduces the number of tokens in use. The tokens are sent to a wallet address that cannot be used for transactions other than receiving the tokens. The wallet is outside the network, and the tokens can no longer be used.
With this being said, this is to inform everyone in the community that we have burned 1,000,000 Elef Tokens for week 7 with a total of 7 Million ELEF Tokens for 7 weeks. We will continue to burn the same amount weekly for the next 2 months or when we have achieved stability. This is for everyone protection and best interest.