Singapore, Singapore – July 17th, 2024 – Chainwire
BinaryX, a prominent developer and publisher specializing in Web3 games, has unveiled plans for a community referendum aimed at reducing the total supply of its BNX token. This strategic move is designed to increase the token's scarcity, thereby enhancing its long-term value for the BinaryX community.
Proposal to Decrease BNX Token Supply Cap
BinaryX has initiated a community-wide vote to determine the future course of action for its token. The proposal seeks to slash the maximum supply of BNX tokens by 1.62 billion units, thereby establishing a new cap of 580 million tokens. This reduction will not affect current game output; instead, future rewards after reaching the supply cap will be distributed as community incentives from the team's allocation.
Transitioning BNX to a Deflationary Model
The core objective behind this initiative, according to BinaryX's team, is to curtail the potential market supply of BNX tokens by eliminating unminted tokens. This measure is expected to heighten the token's utility by significantly reducing its overall supply, paving the way for BNX to adopt a new deflationary model that benefits token holders.
Voting Process and Participation
BinaryX will soon announce the official voting period through its authorized media and community channels. To participate, BNX holders must access the designated voting page during the stipulated period and connect their wallets to cast their vote.
Commitment to Transparency by BinaryX
"Transparency is paramount throughout the voting process," affirms Julio, Head of Growth at BinaryX. "We are dedicated to establishing a fair, transparent, and sustainable project for the long haul." Emphasizing the pivotal role of community engagement, the team underscores that each vote holds significant sway and will directly shape the project's trajectory.
About BinaryX
BinaryX stands at the forefront of Web3 gaming platforms, committed to crafting captivating gaming experiences such as Ai Hero and Pancake Mayor. Operating on the BNB Chain, BinaryX harnesses cutting-edge technologies like blockchain and AI to empower players with unique opportunities to own in-game assets, participate in decision-making processes, and unlock the full potential of Web3 gaming.
For further details on BinaryX, please visit www.binaryx.pro. Additional updates can also be found on social media platforms:
BinaryX on Twitter, Discord, Telegram, YouTube, and Medium.
Contact:
[email protected]
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