BinaryX initiates a community vote to reduce BNX token supply, aiming to enhance scarcity and long-term value for its Web3 gaming community.
BinaryX, a prominent developer and publisher for Web3 games, today announced a community vote to reduce the total supply of its BNX token.
This initiative aims to enhance the token’s long-term value and scarcity for the benefit of the BinaryX community.
BinaryX invites all community members to participate in a critical referendum that will determine the project’s future course. The proposal aims to decrease the maximum supply of BNX tokens by 1.62 billion, resulting in a new quota of 580 million.
The current game output will remain unaltered, and future rewards will be distributed as community incentives from the team’s share after the supply limit is reached.
The primary objective of this referendum, as per the team, is to reduce the potential market supply of BNX tokens by eliminating unminted ones.
It is anticipated that the action will increase the token’s utility by significantly reducing the token supply, thereby enabling BNX to transition to a new deflationary paradigm for holders.
The BinaryX team will announce the official voting period through their official media and community channels.
In order to vote, proprietors of BNX must access the voting page during the official voting period and link their wallets.
“BinaryX prioritizes transparency throughout the voting process and will disclose the results upon completion,” says Julio, Head of Growth at BinaryX. “The team is committed to fostering a fair, transparent, and sustainable project for the long term.”
The team underscored the significance of community involvement, emphasizing that each vote is significant and will directly impact the project’s trajectory.
BinaryX is a prominent Web3 gaming platform committed to developing immersive and engaging gaming experiences, such as Ai Hero and Pancake Mayor.
BinaryX, which is based on the BNB Chain, utilizes the most recent technologies, including blockchain and AI, to offer players distinctive opportunities to own in-game assets, participate in decision-making processes, and experience the full potential of Web3 gaming.
