Deflationary Token Development Tutorials, Guides & Insights
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Understanding 0x000000000000000000000000000000000000dead Address and Token Burns in Ethereum
Token burns are typically done to increase scarcity, and scarcity can lead to a higher token value if demand remains the same or increases. The basic principle of supply and demand comes into play: when the supply of an asset is reduced, it becomes more valuable (assuming demand holds steady).
Many projects use token burns strategically, announcing burn events in advance to generate interest in the project and potentially boost the value of the remaining tokens.