What is Token Burning?

Token burning is the process of permanently removing tokens from circulation. This can be done by sending tokens to an address that is not controlled by anyone and has no private key, effectively "burning" them and making them inaccessible. There are a few reasons why a company or project might choose to burn tokens: To reduce the overall supply of tokens: By burning tokens, the company can decrease the total supply of tokens in circulation, potentially increasing the value of…