A noteworthy announcement from Web3 games platform Tamadoge: an innovative burn program breed to enhance the scarcity and value of its native token, $TAMA. The move, starting today, emerges as a comprehensive strategy to curb $TAMA’s circulating supply, with an underlying aim to acquire new centralized exchange listings.
Three distinct methods .i.e, Mega Burns, Community Burns, and Platform Revenue Burns, will underpin this burn program. The company is gravely focused on user-friendliness and community involvement, hence these strategies can be viewed on the recently launched Tamadoge Burn Portal. Promotional events, and matching up to 5 million $TAMA tokens burnt by the community are among the attractions in store to boost community engagement in the token burning process.
The platform’s revenue will also play its part to give a boost to the burn scheme. Revenues from platform sales will be converted into $TAMA tokens and subsequently set to burn. However, it is vital to note that Ethereum’s network fees would have to be borne by users initiating the burning transactions.
On another note, Tamadoge introduced its staking feature last week and so far 39.7 million $TAMA has been staked, fostering a productive consensus algorithm that promises loyal supporters a chance at earning extra $TAMA tokens. A pool of two million $TAMA tokens is set to distribute rewards, split across four months.
The company’s CEO, Jon Bishop backed this innovative rekindling scheme stating, “The product they have delivered around burning is excellent”. This statement came after the community persistently pushed for more burning, to which the team now assures, “the team has delivered on that request”.
Furthermore, Tamadoge’s roadmap paves the way for the platform’s promising growth. The Tamaverse ecosystem, so far, has launched six games on two apps. As they continue to expand, their new marketing campaign will focus on building brand awareness whilst maintaining their gaming user acquisition strategy.
Interestingly, Tamadoge’s $TAMA token is listed on 12 crypto trading venues, including top-tier centralized exchanges OKX, and Bybit. Considering Tamadoge aims at the mainstream casual gamer with its rapid expansion, and with mobile games expected to engage over 2.32 billion users by 2027, Tamadoge’s $TAMA token is poised for considerable growth in near future. However, it’s essential to remember that crypto is a high-risk asset class and risky as they are lucrative. So, measure your steps before you plunge into the world of cryptocurrency trading.
Source: Cryptonews
