At the “New Year PGT Festival,” 2,526,998.31103952 PGT tokens (worth about $170,000) were burned. This action reduced the total number of PGTs in circulation, increasing their scarcity.
Meaning and Purpose of Burn
Burning is a process of permanently removing tokens from the market. This decreases supply and aims to increase the token’s scarcity and value.
The Role of PGT and Impact on Users
PGT is the governance token of ELEMENTAL STORY WORLD, allowing exchange with in-game currency G-Coin and participation in governance voting. The burning of PGT is expected to contribute to the increase in its value.
