Telegram’s Notcoin burns $3M in tokens to boost value and rewards loyal users with $5M in bonuses

Telegram's tap-to-earn game, Notcoin, has intentionally destroyed $3 million worth of unclaimed NOT tokens in order to make the remaining tokens more rare and valuable.

The purpose of this action is to incentivize engaged users and uphold a sustainable economic atmosphere within the community. The purpose of burning unclaimed tokens is to reduce the overall supply, which may result in an increase in the price of the token.

Furthermore, Notcoin intends to allocate a sum of $5 million as bonuses for its devoted community members, namely those that actively engage with Notcoin Explore at the Gold and Platinum tiers. The purpose of this incentives system is to enhance participation and foster loyalty among community members.

The market capitalization of Notcoin currently stands at $1.65 billion, representing a significant decline of 43.4% from its highest point. The recent token burn and reward distribution have the potential to have a positive impact on the market by generating scarcity and enhancing the perceived value of the token.

This action is expected to attract investors and community members who are interested in achieving long-term increase in value. The $5 million bonus awarded to loyal members exemplifies the platform's dedication to fostering a robust and actively involved community.

By incorporating unclaimed tokens into the treasury, the platform guarantees the availability of resources to support future development, hence stimulating growth and increasing adoption.

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