JAKARTA, Indonesia, Oct. 28, 2021 /PRNewswire/ — Toko Token (TKO), the native utility token of Tokoscape, a complete crypto ecosystem that spans a digital exchange (Tokocrypto), an offline community hub (T-Hub) and a NFT marketplace (TokoMall), will commence their latest burn in November 2021. This event is in line with the project’s litepaper, declaring that the TKO burn event will take place every quarter.
Launched through Binance Launchpad to a record-breaking reception on 7 April 2021, it attracted over 4.2 billion USD worth of TKO committed. Toko Token (TKO) started as the native utility token of Tokocrypto, which is Indonesia’s most trusted crypto assets digital exchange and also the first entity in Indonesia to be registered under the country’s Trade and Futures Exchange Ministry (BAPPEBTI).
"The quarterly TKO Burn plays a central role in balancing Toko Token (TKO)’s cost-push and demand-pull factors whereby this is critical to the management of the token’s inflation rates. Blue chip utility tokens such as Binance Coin (BNB) and Ether (ETH) also incorporated token burning feature," said Omar Adrian Rozak, Head of TKO International.
Token Burning: The Crypto Embodiment of Currency Demonetization
Token burning is analogical to currency demonetization though unlike currency demonetization which involves the replacement of an old currency unit with a new one, there would be no replacement for tokens which are destroyed as part of a token burning process. This holds the key to the effectiveness of token burning as an inflation control mechanism. A reduction in the supply of TKO would lower the inflation rates of the token, which in turn would result in one unit of TKO being exchangeable for a higher quantity of the goods and services for which the token can be traded for. Put simply, the second quarterly TKO Burn would boost TKO’s purchasing power thereby giving TKO holders more bang for their buck.
Second Quarterly TKO Burn: The Lowdown
The second quarterly TKO burn will be conducted in 4 stages, starting from the 5th of November 2021 to the 10th of November 2021. Moving forward, Tokoscape will be continuing to burn a portion of trading volume generated on Tokocrypto in order to optimize the token’s value so as to maximize the investment returns of TKO holders.
For more information: www.tokoscape.com
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