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BIG Burn: Can Deflationary Mechanisms Ensure Sustainable and Healthy Ecosystems?

Cointime Official

By Cointime.com 237

BIG Burn, a Web3 slot machine?

BIG Burn is a decentralized leisure and entertainment platform built on CoreDAO's innovative public chain. The platform aims to provide users with a new entertainment experience and gives them a chance to win great rewards through a unique burn lottery mechanism.

On the BIG Burn platform, users can use tokens to participate in sweepstakes. The way to participate in the sweepstakes is to burn the tokens, i.e., irreversibly destroy the tokens. According to the design of BIG Burn's mechanism, the higher the number of tokens burned, the higher the chance of getting higher rewards. This mechanism incentivizes users to actively participate in the lottery, while ensuring the fairness and randomness of the rewards.

In addition to earning rewards through the Burn Lucky Draw mechanism, users can also get additional rewards through the invitation mechanism. When users successfully invite other people to join the BIG Burn platform and participate in the lucky draw, the tokens burned by the invitees will be rewarded to the inviters according to a certain percentage. This invitation mechanism provides users with another way to increase their earnings and encourages them to actively recommend the platform to others.

Compared to traditional centralized platforms, BIG Burn has several important advantages. Firstly, the platform adopts a decentralized structure where users' funds are not held or kept by the platform, which ensures the safety of users' funds and reduces risks.

Second, BIG Burn's rewards are instantly available and are sent directly to the user's wallet through a smart contract, which allows the user to use or transfer rewards immediately without waiting.

Finally, the openness and transparency of the platform allows all data to be viewed on the blockchain, and users have a higher level of trust in the distribution and process of rewards.

However, as an emerging program, BIG Burn faces some challenges and risks. The market is highly competitive, with similar decentralized entertainment platforms popping up all over the place, attracting users and building a user base is a major challenge. In addition, the stability of the technology and the improvement of the user experience require the platform to be continuously optimized.

Introduction of Economic Model

The economic system of the BIG Burn project is based on a meme coin called BURN, which has a total supply of 14 billion. These tokens are distributed as follows:

1. Initial liquidity addition

In order to ensure the liquidity of the platform, 3 billion BURN tokens in the total supply are used for initial liquidity addition. This will help users to trade smoothly and increase the liquidity of the market.

2. Lottery Rewards

4 billion BURN tokens are used for lottery rewards. When users participate in the lottery, the BURN tokens they use will be used as the participation mark for the lottery. According to the lottery results, lucky users will get additional BURN tokens as rewards.

3、NFT Destruction

In order to enhance the scarcity and value, 6 billion BURN tokens will be used for NFT destruction. This means that some specific NFTs will be completely destroyed by the purchasers, thus reducing the number of available NFTs in the market and thus increasing the value of other NFTs.

4. Treasure Pool

One billion BURN tokens will go into the Treasure Pool. The Treasure Pool can be thought of as a cumulative bonus pool containing a portion of the BURN tokens from sweepstakes and other contributions. These prizes will be distributed under specific conditions, such as through specific tournaments, quizzes, or other activities.

5. Distribution to the team

Finally, 1 billion BURN tokens will be distributed to the BIG Burn team as a reward for their contributions to the program. This ensures that team members are properly incentivized to drive the development and success of the project.

Through the use of a deflationary model, specifically the mass destruction of BURN tokens, BIG Burn aims to create scarcity and provide financial rewards to holders and contributors. The model encourages users to actively participate in raffles and supports the long-term growth of the platform.

BIG Burn's Ecological Roots: CoreDAO

CoreDAO is a public chain project built on the Stoshi Plus consensus mechanism to provide security, scalability and decentralized solutions.

From a technical perspective, CoreDAO blends Bitcoin's Proof of Work (PoW) and Ether's Proof of Stake (PoS) mechanisms. This hybrid model allows CoreDAO to enjoy the advantages of both consensus mechanisms. PoW ensures the security and decentralization of the network, while PoS provides support for network scalability and efficiency.

At the application level, CoreDAO has impressive block-out speeds. The block-out time is only 3-5 seconds per block, which means that transactions can be confirmed quickly and the network is able to process more transactions. This is important for application scenarios that require high throughput and real-time confirmations.

For users, the cost of gas for transactions and interactions using CoreDAO is very low. Compared with other public chains, CoreDAO adopts advanced gas optimization technology, which reduces the transaction cost for users. Users can freely initiate transactions and participate in smart contract operations according to their needs without worrying about excessive fees.

For developers, CoreDAO's compatibility is also an important advantage. It supports Ethernet Virtual Machines (EVMs), which means that developers can deploy their applications developed on Ethernet directly on CoreDAO, reducing migration costs and development time.

Although CoreDAO is still in its early stages, it demonstrates great potential through its innovative technical architecture and positive development dynamics. As more developers and users get involved, we can expect CoreDAO to become a thriving ecological and powerful public chain project.

Conclusion

BIG Burn is a decentralized leisure and entertainment platform built on CoreDAO public chain, which provides users with a brand new entertainment experience through a unique burning lottery mechanism and empowers them with the opportunity to get great rewards. The platform features decentralized architecture, security and transparency.

However, as an emerging program, BIG Burn faces the challenges of a competitive market and technical stability. Attracting users and building a user base is key, while continuous optimization of technology and user experience is required.

Looking ahead, with the popularity of blockchain technology and decentralized applications, BIG Burn is expected to become a popular entertainment platform. Through continuous improvement and innovation, the platform can increase user engagement and attract more partners and developers to the ecosystem. In addition, cooperation with other related industries can bring more opportunities to the platform.

However, to achieve these goals, BIG Burn needs to make continuous efforts in marketing, user experience, and technical stability. At the same time, the platform also needs to pay close attention to changes in the regulatory environment and the evolution of user needs, as well as address possible security issues and risks.

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