THE FIRST ALP burn is complete! Highlights from CEO BTC-Alpha — Vitalii Bodnar
🎉Dear users and partners,
As a result of well-coordinated teamwork, the BTC-Alpha team achieved the goal of the first token burn of the exchange.
As part of the White Paper of the BTC-Alpha exchange token - ALP Coin (ALP), ALP was successfully burnt.🔥
Burning tokens is sending coins to an address without a private key. This method is also called burning in wallets, such transactions can also be tracked. Transaction details: https://etherscan.io/tx/0x16aa705e5cfe7b1e9657ab1426536b008459c0ffb8f914088c9c8afdceb5e758
Such storages do not have a private key, which means that they cannot be accessed and disposed of the accumulated funds. In short, it is burning that helps fight inflation in the price of the token. It is this event that is the beginning of a new stage in the work of the exchange and the rethinking of the ALP Coin economy.
The burning process was based on the number of transactions on the exchange since the launch of the token, which in turn corresponds to the trading volume of ALP Coin. BTC-Alpha burned 1,000,000 ALP, the burning operation took place at block 1225156. The number of tokens burnt includes all spot trading activity within the BTC-Alpha platform.
Burning ALP tokens is just the beginning of a new stage in the development of our trading platform! The Further the more! Next - to the moon🚀