🔥Buy & Burn

BOOMTOWN allocates a significant percentage of the mint and revenue towards buying and burning $BOOM tokens, shrinking the fixed, limited supply over time. There are two distinct phases - the Mint Phase and Post-Mint Phase: Mint Phase - During the initial 30-day auction-style minting phase - 57% of all XNT sent to the contract address is allocated directly to the Buy & Burn address.

Post-Mint Phase - After the minting phase is complete, 50% of all revenue generated via trading fees from the platform goes to the Buy & Burn address on an ongoing basis.

Daily Burn Mechanics:

When a user calls the publicly callable Buy & Burn button on the website, a variable percentage of XNT (based on the buy and burn rate set, which can be set anywhere between 1-10%) buys $BOOM and burns it permanently. This is designed to increase token demand (buy) while simultaneously reducing supply (burn), which has shown to be beneficial to the price of a token over a long-term horizon. A small reward of 1.5% of the amount in the pool is paid in XNT to any user who calls the Buy & Burn function on the website. The Buy & Burn will begin after launch of the protocol.

Fully Decentralized Process

The Buy & Burn process operates under pre-established, transparent rules. These rules ensure clarity on the amount of tokens that will be burnt, maintaining the integrity and predictability of the protocol.