YesCoin Implements Token Burning for Inactive Users
2024-09-05Bittime – YesCoin, a leading crypto platform, will relaunch its token burn mechanism with effect from September 12, 2024. The new policy aims to increase user engagement by reducing token balances for inactive players.
YesCoin Token Burning Mechanism and How It Works
YesCoin will implement a token burning mechanism for users who have not logged into the application for five consecutive days. If users fail to log in within that period, 5% of their YesCoin balance will be burned. This process cannot be canceled once implemented.
Steps to Prevent YesCoin Token Burning
To avoid token burning, users must log in to the application and perform simple interactions such as tapping the screen at least once in five days. If inactivity continues for the next five days, an additional 5% of the remaining balance will be burned, and this process will repeat every five days until the balance is depleted or the user becomes active again.
Purpose of YesCoin Token Burning Mechanism
The implementation of this mechanism aims to encourage users to interact more often with the YesCoin application. By reducing the balance of inactive tokens, YesCoin hopes to increase engagement on their platform and maintain the health of the crypto ecosystem. Additionally, token burning is expected to help reduce the number of tokens in circulation, potentially increasing the value of the token for active users.
YesCoin Rules and Conditions
It should be noted that this burning mechanism is not retroactive. The first token burn will take effect after five days of inactivity calculated from September 12, 2024. Days of inactivity before that date will not affect the user's balance.
Steps To Be Taken By YesCoin Users
To ensure token balances remain safe, users are advised to regularly log in to the YesCoin application and carry out small interactions. This step will help avoid token burning and ensure active engagement on the platform.
Conclusion
The reintroduction of the YesCoin token burning mechanism on September 12, 2024 aims to increase user activity and maintain a healthy platform ecosystem. Users are expected to pay attention to this new policy and continue to interact with the app to avoid negative impact on their balance.
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