WeSendit

To stabilize and strengthen the WSI token ecosystem, WeSendit’s growth strategy aims at a deflationary development of supply. Once WeSendit 3.0 has been rolled out, monthly token burning events will take place, based on the number of signed Web3 Premium subscriptions.This article will take a closer look at WeSendit’s token burn strategy. It will also give you important information on the upcoming giveaway and airdrop events, during which WeSendit will reward its most loyal community members with free tokens.What is a token burn event?During a token burn, a certain number of tokens are transferred to a wallet to which nobody has access. This means the tokens are taken out of circulation or in other words, “burnt”.The most common motivation for burning tokens is to influence price inflation of a crypto asset. The crypto exchange Binance is one of the most well-known examples for this.How do token burn events work?During a token burn event, a certain number of tokens is sent to a wallet address for which no private key exists. Such wallets are also called black hole wallets. The whole process is not nearly as complicated as many people believe.While Proof of Work and Proof of Stake mechanisms usually require lots of energy, Proof of Burn (PoB) does not. Burning permanently removes a crypto asset, therefore also reducing the amount of computational power needed. Unlike the often criticized mining process, burning does not consume enormous amounts of energy, therefore not harming the environment to the degree that mining does.Why does WeSendit plan token burn events?WeSendit seeks to stabilize the development of the WeSendit ecosystem in the first phase after the introduction of our token. A stable price development is crucial for the further development of the revolutionary WeSendit 3.0 platform. It allows us to fully focus our financial and material energy into developing the groundbreaking decentralized applications we envision.A stable price development will enable WeSendit to become a decentralization pioneer and secure a massive market share in the new world of Web3 data transfer and storage.How do you benefit as an investor?If you hold WSI tokens or plan to get them in the near future, chances are high that you’ll benefit from token burns. This is because token burns generally have a deflationary effect on the token supply. Limited supply usually leads to higher prices.This means that the WeSendit token burn could especially reward the people that decide to hold on to their WSI tokens for a longer time.How exactly will the WeSendit burn events work?WeSendit plans to organize several burn events. For each event, we will discuss the specifics with our community. They will depend on the exclusive airdrop and giveaway events.The WeSendit community will also get to decide whether or not such events should be used to strengthen the Staking Pool and enable a more sustainable APY.The WeSendit Giveaway EventTiming: Our WeSendit giveaway event will end on December 22 — three weeks after the public listing on Pancakeswap.<ul><li>Each eligible winner will receive their tokens after the end of the competition.</li><li>WeSendit will inform each winner via email.</li><li>Winners will have to claim their prize within 4 weeks via a form.</li><li>If you do not claim your prize within 4 weeks, your claim automatically expires.</li><li>Unredeemed tokens will either be burnt by WeSendit or transferred to the WSI Staking Pool (the community will decide).</li></ul>The WeSendit Airdrop EventsTiming: WeSendit will announce the date for the first snapshot for early bird WeSendit token holders before the public listing on December 1, 2022, 8 pm CET. Once the Public Sale has started, you are free to buy WSI tokens at any time.<ul><li>The announcement of the first snapshot date will mark the beginning of the first snapshot period.</li><li>At the end of the first snapshot period, WeSendit will take another snapshot that will determine who has qualified for the Airdrop.</li><li>This second snapshot will be decisive. It will compare your portfolio with your portfolio at the moment of the first snapshot. If you hold more than 10,000 WSI tokens, you will participate in the airdrop and receive FREE WSI tokens as a reward for your support, loyalty and trust!</li><li>During the first Airdrop event, WeSendit will distribute a total of 30 million tokens among all qualified WSI token holders.</li></ul>IMPORTANT INFO: The snapshot does only take into account the released tokens that are claimable on the dashboard or available in your personal wallet.If you transfer your tokens into the Staking Pool, you also benefit from the Airdrop! In this case, you will receive the staking rewards plus the airdrop reward based on the tokens you still hold.In other words: You will benefit from the WeSendit Airdrop if you leave your WSI token inside the WeSendit ecosystem.We only take into account the tokens that are not subject to vesting.WARNING: If you sell your tokens via DEX or CEX during the snapshot period, you will NOT be allowed to participate in the first Airdrop Event! If you transfer your WSI tokens to an external wallet during the snapshot period, you will also be excluded from the Airdrop.Qualified wallets will receive a certain amount of free WSI tokens based on the pool of 30 million tokens. The respective percentages can be seen on the following chart:<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/56f210fb7d3e45dc9672ac522de9b3cb.png" />Example: If you hold 10,000 WSI tokens, you receive another 2,000 WSI tokens during the Airdrop Event, etc.Please note: We will distribute a maximum amount of 30 million tokens. In case the claims of qualified token holders exceed this amount, we will adopt the distribution accordingly.If we do not have to distribute the 30 million tokens completely, we will let our community decide about the fate of the remaining tokens. The tokens can be burned or added to the staking pool to strengthen the APY.Conclusion: Early birds will fly high!“Community first.” At WeSendit, we have been saying this from the start. And we mean it: The early birds, the people who have given us their trust during the early stages of our project, have already benefited during our successful community sales, where they were able to secure WSI tokens for very low prices. The upcoming Giveaway and airdrop events will be the next great opportunities to become a part of a project that is set to revolutionize the way the world sends and stores its data. Early birds will not only catch the worm…They might soon fly higher than ever before!—Don’t want to miss important announcements?Make sure to follow WeSendit on the Socials!<a href="https://twitter.com/WeSendit" rel="noopener noreferrer nofollow">Twitter</a> <a href="https://www.instagram.com/wesendit.io/" rel="noopener noreferrer nofollow">Instagram</a> <a href="https://www.youtube.com/channel/UCtzAZUlSqfoKiFuOWE521Ug" rel="noopener noreferrer nofollow">Youtube</a> <a href="https://www.linkedin.com/company/wesendit/" rel="noopener noreferrer nofollow">Linkedin</a> <a href="https://t.me/wesenditcom" rel="noopener noreferrer nofollow">Telegram</a> <a href="https://medium.com/&#64;WeSendit" rel="noopener noreferrer nofollow">Medium</a>Visit <a href="https://wesendit.io/" rel="noopener noreferrer nofollow">wesendit.io</a> for more information on the project.—SOURCE: WeSendit Marketing &amp; PR departmentDISCLAIMER: This article does not contain any financial advice. Its only purpose is to present information about WeSendit. The local terms and regulations of your home country regarding investments in crypto currency apply. Please make sure to visit <a href="https://wesendit.io/legal-notice/" rel="noopener noreferrer nofollow">https://wesendit.io/legal-notice/</a> for further information.

The WeSendit Token Burn Events: How do they work and what’s in for you?

Jhwesendit

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