South Park’s Kenny McCormick could also be perpetually doomed, however his newest enterprise on the earth of cryptocurrency is something however. Burn Kenny, the brand new hilariously irreverent meme coin has raised over $400,000 in market cap on its presale, leaving followers excited for what’s to return.
Impressed by the beloved South Park character, Burn Kenny is an excellent deflationary token that’s designed to do one factor – get burnt.
How Burn Kenny’s Meme Coin Token Burning Might Profit Traders
Burn Kenny’s token burning course of is designed to progressively lower the full provide of the token, creating shortage and doubtlessly growing the worth of the remaining tokens. The method works by progressively burning a portion of the full token provide over a set interval till a predetermined share of the tokens have been destroyed.
In Burn Kenny’s case, 30% of the full token provide shall be burnt over three days, beginning 24 hours after the token’s preliminary itemizing. This shall be accomplished by sending a portion of the tokens straight to the “fiery depths of token hell,” successfully eradicating them from circulation. The burning course of will proceed at a fee of 10% each 24 hours till the 30% burn goal is reached.
The worth of the remaining tokens may doubtlessly improve on account of the token-burning course of, as there shall be fewer tokens in circulation. This creates a state of affairs of elevated demand for the remaining tokens, which may drive up their worth.
With a complete token provide of 6,666,666,666, an arbitrary quantity Burn Kenny’s tokenomics are as distinctive because the character himself.
The presale accounts for 40% of the full token provide, whereas one other 30% shall be thrown into the Uniswap liquidity pool, locked for 3 months. The remaining 30% shall be despatched straight to the fiery depths of token hell, progressively burnt over three days, beginning 24 hours after itemizing. By the tip of Q3 2023, the staff behind Burn Kenny goals to have fulfilled all their roadmap targets.
In latest updates, they’ve introduced that they’ve deployed the contract, paired and locked Liquidity Pool (LP), and up to date DexTools with sizzling pairs prepared for buying and selling. These preparations are all important steps in guaranteeing a easy and profitable launch for Burn Kenny.
Deploying the contract and pairing and locking LP are key technical elements of the launch course of. The contract deployment entails organising the good contract that may govern the token and guarantee its performance.
Along with these technical preparations, the Burn Kenny staff has additionally been working to construct hype and generate pleasure for the launch. They’ve famous that Ethereum is trending and that DexTools is prepared for decent pairs, which may assist to drive curiosity and improve demand for the token.
Burn Kenny’s irreverent method to cryptocurrency and its use of the South Park character Kenny McCormick as its mascot give it a definite character and make it stand out from different meme cash.
In fact, like all meme coin, Burn Kenny’s success will finally rely on the power of its group and the demand for its tokens. Nevertheless, its distinctive idea and method to the meme coin style may doubtlessly make it a standout mission within the crowded world of cryptocurrency.
Featured picture from Burn Kenny on Twitter, chart from TradingView.com