🥘Burning Raffle
The best burning event on Cosmos
Burning
In the bustling world of cryptocurrency, a "burning event" is akin to a gourmet chef finely tuning their recipe by reducing certain ingredients to enhance the overall flavor. In crypto terms, this means intentionally decreasing a token's total supply by permanently removing tokens from circulation. Developers or governance bodies initiate these events for various savory reasons, such as to increase scarcity, refine tokenomics, or enrich the token’s value.
Our Burning Event: Ratatouille
At start.cooking, we’re whipping up something special, a burning raffle that combines the thrill of a game with the strategic advantage of reducing token supply. This isn't just any burn; it’s a community-engaging, tokenomics-enhancing event that turns up the heat on conventional burning practices.
How to Cook Up a Burning Event:
Select Your Ingredients: Decide how many tokens you want to reward the raffle winner and set the burn target—the total amount of tokens that must be collected from circulation to start the event.
Ticket to Sizzle: Community members can purchase raffle tickets by contributing tokens to the designated burn pile. These can be tokens they already hold or ones bought specifically for the event.
Cooking Time: If the burn target is reached within the specified timeframe, the event ignites, and the collected tokens are burned—leaving behind a refined token supply.
What If the Dish Doesn’t Ignite? Should the burn target not be met, all contributed tokens are returned to their owners, though the fees paid during the process are retained by the platform.
Why Participate in the Event?
This unique approach to burning not only helps control and reduce token supply but also actively involves the community in the token’s lifecycle. It’s a fun, engaging way to contribute to the economic health of your favorite token while standing a chance to win big. Plus, it reinforces the value of the tokens remaining in circulation, potentially leading to a more robust market position.
So, ready to turn up the heat? Join us at Start.cooking and spice up your crypto portfolio with our burning event. It’s a recipe for success!
Fees
There are two types of fees in the event: one for creating the event and another for participating. These fees ensure the smooth operation and integrity of the burning raffle.
Osmosis
10 OSMO
0.1 OSMO + Burned Tokens
Last updated