Is Avorak AI (AVRK) Burn Function Better Than BNB Burn? – NewsTo
Is Avorak AI (AVRK) Burn Function Better Than BNB Burn?

Is Avorak AI (AVRK) Burn Function Better Than BNB Burn?

BNB has one of the most well-known cryptocurrency burns. Since BNB’s inception, nearly a quarter of the total BNB supply has been burned, equating to billions of dollars of value.

BNB Burn

The Binance exchange, when creating BNB, set a goal to burn half of the 200 million supply down to 100 million.

So far, over 44 million BNB has been burned, which at $330 per BNB equates to over $14 billion dollars. This incredible tokenomics has ensured that BNB has continued to become more valuable since it was created in 2017. As the BNB value continues to increase, it is likely that the rate of burning will slow down, and once the 100m circulating supply is reached, the burn will stop.

BNB Bridge Exploit

In 2022, the BNB bridge that allows movement between the BEP-2 BNB Chain and the BEP-20 BNB Smart Chain was exploited. This meant that the BNB supply was increased by 2 million coins to 202 million. This has not stopped the BNB burn plan to reduce to 100 million supply, which was outlined in a Binance blog post from January of 2023.

Alternative Burn Crypto

There are many cryptos that tried to emulate this burning process, with minimal success. Shiba Inu managed to burn 50% of the supply by sending it to Vitalik, who subsequently sent a small amount to charity and sent the rest to the network burn address. This is one of the main reasons for the hype that SHIB gained, causing it to propel to the top of the crypto token list. This kind of burn is a one-off, though, and impossible to repeat.

Other tokens have a form of tax on buying and selling. This means the burn is taken straight from the pockets of those trading the token, a cannibalistic approach and one that does not benefit the end user.

Avorak AI is here to change that.

Avorak AI Burn

This new project is delivering a set of AI tools for trading, creative tasks, and general life enhancement. The AVRK token is required to access these features, and users will pay AVRK for credits. This is where the most interesting part comes into play. As outlined in the Avorak whitepaper, when someone pays for these credits, there is a live payment routing system that returns some of the revenue to AVRK holders (an amazing form of a passive income!) and some to the Avorak project. In addition to this, 2% of all incoming revenue is burned. This is incredible, as it means that the popularity of Avorak products will drastically increase the rate at which AVRK is burned.

Early estimates expect at least 10% of the supply to be burned within the first three months of the full product launch, as with a launch AVRK market cap of only $10.5 million, it would only take $50 million of revenue to achieve this, tiny numbers compared to similar products available on the market right now.

Having completed a 100% audit pass before even starting the ICO, Avorak is looking set to become a big player in the industry.

Want to learn more about Avorak AI? Make sure to check out the below links before the price increases with the next phase coming up.


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