Singapore, Singapore, July 17, 2024, Chainwire
BinaryX, a leading developer and publisher of Web3 games, today announced a community vote to reduce the total supply of its BNX token. This initiative aims to increase the token’s scarcity and long-term value for the benefit of the BinaryX community.
Proposed reduction of BNX token supply limit
BinaryX is inviting all community members to participate in a crucial vote to determine the future trajectory of the project. The proposal seeks to reduce the maximum supply of BNX tokens by 1.62 billion, which would reduce the new cap to 580 million. The current in-game output will remain unchanged, and future rewards after reaching the supply cap will be distributed as community incentives from the team’s share.
BNX will enter a new deflationary model
According to the team, the main goal of this vote is to reduce the potential market supply of BNX tokens by removing unminted ones. The action is expected to improve the utility of the token through a greatly reduced token supply, allowing BNX to enter a new deflationary model for holders.
Voting and participation details
The BinaryX team will announce the official voting period through its official media and community channels. To participate, BNX holders will need to visit the official voting period voting page and connect their wallets to cast their vote.
BinaryX's commitment to transparency
“BinaryX prioritizes transparency throughout the voting process and will disclose the results once the process is complete,” says Julio, Chief Growth Officer at BinaryX. “The team is committed to fostering a fair, transparent, and sustainable project in the long term.”
The team emphasized the importance of community participation, highlighting that every vote counts and will directly influence the direction of the project.
About BinaryXBinaryX is a leading Web3 gaming platform dedicated to creating immersive and engaging gaming experiences like Ai Hero and Pancake Mayor.
Built on the BNB chain, BinaryX leverages the latest technologies such as blockchain and AI to provide players with unique opportunities to own in-game assets, participate in decision-making processes, and experience the true potential of Web3 gaming.
For more details and information about BinaryX, users can visit www.binaryx.pro
Users can also find more information about BinaryX on social media: BinaryX | Twitter | Discord | Telegram | YouTube | Medium
ContactBinaryX[email protected]
This article was originally published on Chainwire
