Boom Token: Self-Burning Cryptocurrency on Ethereum Blockchain

Key Points

• Boom Token airdrop offers 1 BOOM token, with the opportunity to join BOOM Trading Competition on BitMart.
• Boom Token operates on a self-burning model based on Ethereum smart contract.
• No new BOOM tokens will ever be minted; 1% will be burned with each transaction.
• BitMart Token (BMX) also operates on the Ethereum blockchain and adheres to the ERC20 token standards.
• BMX has a total supply of 1 billion; 20% of BitMart's profits will be used to buy back and burn BMX tokens.

Introduction

Boom Token, based on the Ethereum smart contract, is shaking up the game with its self-burning model. Coupling that with BitMart's unique Buy-Back-and-Burn mechanism for its native BMX token, it provides a fascinating case for token economies in the blockchain space.

The Boom Token Experiment

With its unique self-burning mechanism, Boom Token offers a new angle on token economies. Boom started with a total supply of 1,000,000,000 tokens. However, each completed on-chain Boom transaction results in the burning of