We’re on Week 9 of our token burning and we would like to inform everyone in the community that we have burned 1,000,000 ELEF Tokens this week with a total of 9 Million ELEF tokens for 9 weeks.
This is what we call Cryptocurrency Burning, which is a way to protect your investment and to ensure that the value of our token stabilizes. It 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.
For everyone’s protection and best interest, will continue to burn the same amount weekly for the 1 month or when we have achieved stability.