BinaryX Unveils Community Vote to Decrease BNX Token Supply and Embrace Deflationary Model

BinaryX, a prominent developer and publisher of Web3 games, has recently revealed a community vote to decrease the overall supply of its BNX token.

Prominent Web3 game developer and publisher BinaryX has recently unveiled a community vote to decrease the overall supply of its BNX token. This initiative is centered around increasing the scarcity of the token and boosting its long-term value to the BinaryX community.

Proposed Decrease in BNX Token Supply Cap

BinaryX is inviting all community members to actively participate in a crucial vote that will directly impact the project’s future trajectory. The proposal aims to decrease the maximum supply of BNX tokens by 1.62 billion, resulting in a new cap of 580 million. It's important to note that the current game output will remain the same, and the team will allocate any future rewards exceeding the supply cap to community incentives.

BNX to Adopt a Groundbreaking Deflationary Model

The team has stated that the main objective of this vote is to reduce the potential market supply of BNX tokens by eliminating the unminted ones. This move is anticipated to boost the token’s utility by significantly reducing the token supply, enabling BNX to adopt a new deflationary model for its holders.

Details and Participation in Voting

The BinaryX team will announce the official voting period through its official media and community channels. To participate, BNX holders must visit the voting page during the official voting period and connect their wallets to cast their vote.

“BinaryX prioritizes transparency throughout the voting process and will disclose the results upon completion,” said Julio, Head of Growth at BinaryX. “The team is committed to fostering a fair, transparent, and sustainable project for the long term.”

The team highlighted the crucial nature of community involvement, emphasizing that each vote holds weight and will directly shape the project’s trajectory.