The Goji Crypto Team Burned 40% Of The Total Supply Of HANU In 2022!
Goji Crypto started off 2022 with a huge burn! 40% of the total supply of HANU has been burnt to a dead wallet on January 1st, 2022.
If you read the Goji Crypto White Papers then you knew the first big HANU token time lock was set to be unlocked on January 1st, 2022. The Goji Crypto team was sure they wanted a portion (if not all) of these tokens to be burnt once unlocked. In the spirit of decentralization lead developer, Stephen Banner left the choice up to the community. There was a poll on the Goji Crypto Discord Server and a majority of the votes were for the maximum amount of HANU to be burnt once unlocked.
You can take a look at the EtherScan Transaction for more information about the burn, but on Jan-01–2022 at 5:22:27 PM 400 Trillion HANU was sent to a dead wallet (0x000000000000000000000000000000000000dead). At the time of the transfer, the HANU burnt was valued at $1,346,123,823 making it the biggest burn in the history of the existence of Hanu Yokia.
Token burning happens when a cryptocurrency token is intentionally sent to an unusable wallet address (dead wallet) to remove it from circulation. Burning reduces the supply, making tokens of that cryptocurrency scarcer. That scarcity can lead to an increase in price and benefit investors.
Hanu Yokia previously had a total supply of 1,000,000,000,000,000 HANU tokens so this burn is 40% of the total supply. After this huge burn, the new total supply amount is 593,279,012,345,679 HANU* (according to CoinMarketCap).
*Please note that doesn’t mean that all 593 Trillion HANU tokens are currently in circulation.