FKX Burning!


Dear community,

We are happy to announce, that FortKnoxster is introducing FKX burns starting Q1, 2022. FortKnoxster will burn 20% of all income from our coming PRO upgrade feature, with a minimum burn of 200.000 FKX quarterly, effectively reducing the circulating supply of FKX.

What and why?

Token burning or coin burning is an intentional action taken by the coin’s creators to “burn,” i.e., remove from circulation a specific number from the total available tokens in existence. There are several reasons to burn tokens this way, but generally, the move is for deflationary purposes.

What actually happens in a coin burn, is that FKX is algorithmically taken out of circulation by sending the outputs to a public address known as an ‘eater address.’ The keys to this public address are hidden and cannot be obtained by anyone. And so, once the tokens are sent to this address, they are unrecoverable and can never be used as no one has the keys to access them.

FKX has a maximum supply of 150 Million coins, which are all in circulation. Read more here.

We hope you enjoy the news and thanks for being an active community member and patient alongside us!