Buy & Burn Details
Burn Baby Burn!
Last updated
Burn Baby Burn!
Last updated
This is a fully decentralized buy and burn that burns a total of 43% of the supply every week. The Buy and Burn amounts each day are as follows:
3% of the total TitanX is used each day from Sunday to Wednesday (3% per day).
7% is used on Thursday.
12% is used on Friday and 12% on Saturday.
Buy and Burn occurs in intervals throughout the day.
In the first week, the buy and burn process starts on Sunday at Noon (the launch is Friday at Noon and the mint ends Saturday at Noon). So the buy and burn starts 24 hours after the first mint.
Intervals are publicly callable every 7.5 minutes throughout the day.
7.5 minutes equals 192 intervals in 24 hours.
For example, if 3% is split into 192 parts, the value for each interval is calculated accordingly.
If an interval is missed, it accumulates to the next interval. For example, if a 7.5- minute interval for a buy and burn is $500 and it is not called, the next interval will be $1000. When called, the following interval returns to $500.
Any unused Buy & Burn value for that period will roll over into the following week.
