News

Tap initiates it's first XTP burn

Stalina
2 min

Tap is delighted to start its first XTP official Burn. What better day to start our burn with the burning desire that valentine brings to our mind? From now on every month Tap will gather & burn all of the fees collected on the Tap platform and burn them.

Because the monthly burn is based on fees, when more users decide to join and pay their fees with XTP for additional discounts on their fees, the larger the monthly reserve will be. The tokens are then burnt permanently, reducing the overall supply of tokens while giving us an even greater ability to protect and grow XTP's price.

The burns offer an incentive to continue holding XTP and paying fees in XTP for further discounts, rewarding long-term holders by protecting their investment over time as the burns occur.

The positive is that the program's strength is increasing all the time, as the Tap app's user base and desire for fee reductions grow.

You can consult our first effective 10 Million token burns here