Baby Doge Coin, the cryptocurrency, has recently proposed to burn 100 Quadrillion of its tokens. This means that this number of coins would be permanently removed from circulation if approved.
This announcement came through an official Baby Doge Twitter Account.
The Ethereum network is proposing a significant reduction in fees for transactions, which could result in one of the largest token burns ever - with a monetary value estimated to be worth hundreds of millions of dollars. If approved, this initiative would have a major impact on the industry.
To help guarantee the safety and sustainability of its system, Baby Doge is burning its tokens. A portion of them will be kept to link to Ethereum, & at the same time reduce transaction fees within the network to 0%, making it more efficient and affordable for users.
On June 1, a token burn process will be executed, reducing the total number of Baby Doge tokens from 100 quadrillion to just 85 quadrillion. These tokens can then be bridged across to Ethereum.
What is Baby Doge?
Baby Doge is a unique token that combines an adorable mascot with exciting features. It's deflationary, meaning it will constantly become more scarce over time. Anyone holding Baby Doge coins in their wallet automatically earns extra coins sent directly to the wallet. Watch the amount of baby doge grow in your wallet as baby doge coin holders automatically receive a 5% fee from every on chain transaction that happens on the Baby Doge ecosystem.
The community receives more baby doge coins from the fees generated each transaction.
The Baby Doge ecosystem is revolutionizing the way people invest in cryptocurrency. By holding Baby Doge coins, investors are able to receive a 5% fee from every on-chain transaction that occurs within the network. This creates an incentive for users to hold their coins and provides a steady income stream for coin holders. As more transactions occur, the amount of baby doge in your wallet will grow, allowing you to benefit from the growing crypto market without taking any risk.