What exactly is the burn protocol?
This refers to the process of permanently removing tokens from circulation. When MNFT tokens are “burned”, they are transferred to an address without a secret key or in other words an account that cannot be accessed.
The process of burning MNFT tokens is carried out in the following 3 ways:
1. Market Buy and Burn
2. MNFT Token Transactions
3. MNFT Token Reserve
There has been a total of 8 burns so far totaling 88.1 billion MNFT tokens that have been burned.
Burn #1:
Market: 1’000’000’000 MNFT
Reserve: 25’000’000’000 MNFT
Percentage: 29.5%
Total: 26’000’000’000 MNFT
Burn #2:
Market: 100’000’000 MNFT
Reserve: 3’000’000’000 MNFT
Percentage: 3.52%
Total: 3’100’000’000 MNFT
Burn #3:
Market: 150’000’000 MNFT
Reserve: 50’000’000’000 MNFT
Percentage: 56.89%
Total: 50’150’000’000 MNFT
Burn #4:
Market: 182’713’358 MNFT
Reserve: 3’000’000’000 MNFT
Percentage: 3.61%
Total: 3’182’713’358 MNFT
Burn #5:
Market: 25’284’238 MNFT
Reserve: 2’000’000’000 MNFT
Percentage: 2.3%
Total: 2’025’284’238 MNFT
Burn #6:
Market: 31’890’754 MNFT
Reserve: 1’000’000’000 MNFT
Percentage: 1.17%
Total: 1’031’890’754 MNFT
Burn #7:
Market: 44’479’166 MNFT
Reserve: 1’000’000’000 MNFT
Percentage: 1.18%
Total: 1’044’479’166 MNFT
Burn #8:
Market: 610’819’406 MNFT
Reserve: 1’000’000’000 MNFT
Percentage: 1.83%
Total: 1’610’819’406 MNFT
