Knowledge Base   /   Inddais Token

What does token burn mean?

Posted on 03 May 2022 11:04 am

Token burning is a process in which it obliterates the set number of tokens out of circulation and becomes inaccessible to anyone. This process comes handy when a token is abundantly available for sale in the market to reduce the supply and increase the demand. If you choose to burn the Inddais tokens you hold, visit, connect the wallet which got INIS in it, choose the quantity you wish to burn and complete the transaction. Post transaction, you will receive the BNB burn compensation to your wallet.

Please note that the burn transaction is irreversible, and you will lose the tokens burnt permanently. Use this feature only when you have made sufficient returns out of your INIS token and needed to liquidate it for reasons like tax savings.