Yooshi Confirms 59% of Circulating Token Supply Is Burned

The Binance Smart Chain project boasts of impressive features, including a unique token burn mechanism.

Yooshi Burns Large Amount of Circulating Tokens 

Non-fungible token (NFT) and GameFi metaverse on Binance Smart Chain (BSC), Yooshi has confirmed its latest token-burn activity. The platform seeks to improve the value of its native $YOOSHI token by burning its circulating supply. 

Yooshi, on Sunday, 10th October, confirmed on Twitter that over 59% of the total supply of $YOOSHI had been burned. However, $YOOSHI presently has a total supply of 1,000,000,000,000,000 tokens. 

“Over 59% total supply of $YOOSHI token has been burned! #YooShi #YooShiArmy,” tweeted Yooshi. 

The latest development is in line with the protocol’s mode of operation. Yooshi designed the $YOOSHI token with a burning mechanism, such that its supply is cut exponentially. With this strategy, the NFT GameFi project intends to increase its token’s liquidity by combining it with an innovative Auto-liquidity function and NFT altogether. 

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All in One GameFi Platform on BSC 

The Yooshi metaverse offers a gamepad where GameFi developers utilise its Initial DEX Offering (IDO) launchpad to raise funds by pre-selling unique in-game assets in the form of NFT. The protocol also provides an independent game incubator known as Yooshi Labs, including an NFT marketplace. 

Yooshi Labs gives game developers access to complete GameFi design and technical support to develop their blockchain games quickly. Another unique feature of the Yooshi metaverse is its Play-to-Earn game, Guild Alliance (P2EGA). 

“P2EGA is a Play-to-Earn gaming guild alliance. We hope to help millions of low-income people to gain more profits through Play-to-Earn games and bring more users into the game!” Yooshi wrote on its website about the Guild Alliance game. 

The Yooshi ecosystem has grown significantly on BSC. At the time of this writing, the protocol has recorded over 251K holders, more than 133K Twitter followers, and 110K+ members on Telegram. With ownership of the contract transferred to the burn address, the protocol boasts of being secure and “unruggable.” In essence, the $YOOSHI token is community-led and managed by volunteers since contract ownership has been burned. 

For more information about $YOOSHI tokenomics, features, etc., visit the protocol’s website.

Source : bsc.news

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