Burn Events

Introduction to the Revised Program

In light of the recent relaunch of the SPACE BSC contract, we have recalibrated the Space Token Burn Program to align with the evolving needs and preferences of our users. This adjustment represents our commitment to fostering a sustainable and user-centric ecosystem for Space Token (SPACE).

Key Changes and Their Impact

1. Discontinuation of Automated Burning Mechanism:

  • Previous Mechanism: Prior to the contract relaunch, each transaction on the BNB Smart Chain involved an automated burn of 1% of the transacted SPACE, permanently removing it from circulation.

  • Impact of Change:

    • Reduced Transaction Fees: The removal of the automated burn mechanism has resulted in decreased transaction fees, leading to increased user satisfaction and transaction volume.

    • Absence of Automatic Burns: With the discontinuation of this feature, there are no longer automatic burns on each transaction, necessitating the implementation of alternative burn strategies.

2. Total SPACE Burnt Previously:

  • Historical Burns: Under the old burn mechanism, a total of 929,786 SPACE tokens were burnt, contributing to the reduction of the overall token supply.

Significance of Token Burning

Token Burning and Price Stability:

  • Supply and Demand Dynamics: Burning tokens is a method to manage the supply of SPACE in circulation. By reducing the total supply, assuming demand remains constant or increases, the scarcity of SPACE can lead to price stabilization or appreciation.

  • Long-term Value: Strategic burns are aimed at safeguarding the long-term value of SPACE, aligning with the interests of holders and investors by potentially increasing the per-token value over time.

Space Token Burn Program V2: Enhancing Value and Stability

Introduction to the Program

The Space Token Burn Program is integral to the ecosystem, aimed at enhancing the intrinsic value and stability of the Space Token (SPACE). Through strategic token burning, we seek to balance supply dynamics, support token price stability, and reward our community of SPACE holders.

Enhanced Burn Strategies

1. Monthly Scheduled Burns:

  • Objective: Conducting regular monthly burns promotes sustained ecosystem growth and maintains robust product economics.

  • Impact: These burns are designed to protect the SPACE token's value and preserve a harmonious balance between the token holders and the Final Autoclaim wallet.

2. Buy-Back and Burn:

  • Monthly Allocation: We allocate 0.5% of the monthly revenues generated on Final Autoclaim to a reserve fund for token buy-back.

  • Market-Responsive Strategy: During bearish market phases, as indicated by efficient technical indicators, SPACE tokens will be bought back and burned, providing support to the token price.

  • Holder Rewards: This approach rewards long-term holders by executing buy-backs and burns in market downturns.

3. Space Token Deposits Burn:

  • Staking Pools Contribution: The integration of off-chain staking pools on Final Autoclaim necessitates the deposit of SPACE tokens from on-chain wallets.

  • Monthly Burn of Deposits: The total SPACE tokens deposited monthly on Final Autoclaim via BSC, Polygon, or Fantom Network will be subject to burning. This helps maintain a healthy balance between the Final Autoclaim reserve and holder wallets.

Tracking and Reporting

We are committed to transparency and will provide monthly reports on the Space Token Burn Program. These will be shared on our social media and a dedicated page on our website, offering insights into the staked SPACE amounts, scheduled burns, and transaction records of completed burns.

The updated contract address for tracking burned SPACE tokens is available here: https://bscscan.com/token/0x9e1170c12fddd3b00fec42ddf4c942565d9be577?a=0x0000000000000000000000000000000000000000

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