6-4. Token burn mechanism
Last updated
Last updated
GET will introduce a mechanism to periodically burn tokens in order to sustainably increase their value.
This burn function will control the amount of tokens in circulation and continue to increase their scarcity value over the long term.
Burn will be implemented in the GET ecosystem for the following purposes.
Control inflation and increase value: Optimize the supply-demand balance and increase the scarcity of tokens by adjusting the amount of tokens in circulation.
Healthy growth of the ecosystem:
Burn a portion of fees earned from specific activities or transactions to support the circulation of tokens while encouraging user participation.
Incentives for community participation:
User involvement in the burn process related to governance, fan events, etc. will strengthen engagement and contribute to the revitalization of the token economy.
Partial Burn of Transaction Fees:
A portion of transaction fees generated within the GET platform (NFT purchases, fan token payments, donations, etc.) will be burned. As transaction volume increases, circulating tokens decrease, creating a supply-limiting mechanism.
Partial Burn of Event Participation Fees: A portion of premium participation fees from official events and live streams will be burned.
Burns will occur for specific fan events and project voting events, further enhancing contributions to the token ecosystem.
Regular Burn Events:
Quarterly burn events will be held based on the ecosystem’s status and community demand. Users can participate in governance voting to influence the frequency and amount of burns, providing opportunities for decision-making within the GET ecosystem.
Burn mechanism supports ecosystem growth and token value stabilization, fostering long-term user engagement. In the future, plans include an automated burn system based on community decisions and processes tied to specific fan events. These burn features will enable GET to create a sustainable token model in the entertainment market, continually providing users with new entertainment experiences and value.
