Tamadoge, the web3 games platform, is making waves in the crypto space with the introduction of its new burn program. The program aims to enhance the scarcity and value of Tamadoge’s native token, $TAMA. By reducing the circulating supply of $TAMA, Tamadoge plans to attract new centralized exchange listings and further strengthen its position in the market.
The burn program consists of three methods, each contributing to the reduction of $TAMA tokens in circulation. These methods include Mega Burns, Community Burns, and Platform Revenue Burns. By implementing these strategies, Tamadoge intends to create a more engaging and transparent ecosystem for its community.
Tamadoge has planned special promotional events in the fourth quarter of 2023 as part of the Mega Burns strategy. These events are expected to result in a significant burning of $TAMA tokens, further enhancing their scarcity and value.
To encourage community involvement, Tamadoge has introduced the Community Burns program. For every $TAMA token burned by the community, Tamadoge will match it by burning an equivalent amount, up to 5 million $TAMA. This initiative will run until November 5, 2023, allowing the community to actively participate in the burn program.
Tamadoge has taken a unique approach with its Platform Revenue Burns strategy. Instead of pocketing revenue generated from platform sales, Tamadoge will convert it into $TAMA tokens and subsequently burn them. This method ensures that the ecosystem directly benefits from its own growth and success.
Tamadoge has launched a dedicated Burn Portal to facilitate the burning process for its users. Through the portal, community members can easily access information about the burn schedules, as well as the number of tokens already burned. The Burn Portal also allows logged-in users to keep track of their individual burning contributions.
Burning $TAMA tokens is a straightforward process. Users need to connect their wallets to view their $TAMA balance, enter the desired amount of tokens to burn, and click the burn button to initiate the transaction. However, users should be aware that they are responsible for paying Ethereum gas fees for these transactions. It is advisable to perform the burn during periods of low network congestion to minimize the cost.
Tamadoge caters to users with different wallet preferences. If using MetaMask on a desktop computer, the burn transaction will be handled by the Chrome browser extension. On the other hand, users connected with a Tamadoge Wallet (Web3Auth) will have the transaction processed through the Tamadoge and Web3Auth user interface flow. Regardless of the wallet choice, users will still need to pay the Ethereum gas fee.
To foster trust and transparency, Tamadoge’s Burn Portal provides valuable data points for the community. These data points include the total number of TAMA tokens burned, the total number of TAMA tokens burned by the community, and the number of TAMA tokens burned by individual users (if connected to the portal).
Tamadoge CEO Jon Bishop expressed his commitment to the growth and value of the Tamadoge Army through the burn program. According to Bishop, the community has consistently requested more burning initiatives, and the team has delivered an excellent product that meets these demands. This commitment to coin growth ensures that $TAMA token holders can expect a prosperous future.
In addition to the burn program, Tamadoge has introduced a new staking feature. Stakers can earn rewards at a rate of 3 $TAMA per ETH block, with a staking pool of two million $TAMA tokens available for distribution. The staking system is dynamic, allowing tokens to be withdrawn at any time and offering a variable annual percentage yield (APY) based on the number of staked tokens.
Tamadoge has also rolled out a fresh roadmap, teasing mystery projects and giveaways for the community. While the platform has already released six games on Tamadoge Arcade and Tamadoge Arena, the marketing campaign aims to build brand awareness and attract mainstream casual gamers. With the mobile games market projected to grow exponentially, Tamadoge and its $TAMA token are positioning themselves for significant growth in the years to come.
Tamadoge’s new burn program demonstrates a proactive approach to enhancing the scarcity and value of its $TAMA tokens. Through engaging community burns, promotional events, and revenue conversions, Tamadoge aims to create a transparent ecosystem that involves and benefits its users. With the addition of staking rewards and a refreshed roadmap, Tamadoge is solidifying its position as a leading web3 games platform, attracting both casual gamers and crypto enthusiasts alike.
Disclaimer: Crypto investments carry inherent risks, and this article should not be taken as financial advice. It is for informational purposes only, and readers should exercise their own judgment and caution before making any investment decisions.
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