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Burning Mechanism
Removing $ZYB tokens from circulation
Token burning is a mechanism used to reduce the total supply of the $ZYB tokens. The basic idea is to permanently remove some of the tokens from circulation, which can potentially increase the value of the remaining tokens.
Token burning is achieved by sending tokens to an address where they can never be accessed again, such as a "burn address" or a contract that is programmed to reject any attempt to transfer or access the tokens.
Zyberswap has implemented an automatic burning mechanism, where a portion of protocol fees is used for buying $ZYB tokens back from the market and sending them to the 0xdead address on the Arbitrum One network.
Last modified 9mo ago