Token Burn Monthly Schedule

The 12th of every month is the monthly fixed date of burning Fara.

What is Token Burn?

Token burn is an operation to destroy a number of Tokens in order to reduce the total supply of Tokens existing in the Faraland system. The amount of Burned Tokens will not belong to any account but will be lost forever.

– Fara token burn is not a form of tax or fee. Faraland team does not gain benefit Tokens from this activity.

– Burn Fara Token to serve the interests of the community, limit or prevent actions that harm the system, and ensure the Fara ecosystem is healthy.

– Token burn is to keep the value of the Token because the Token is born and accumulates over time.

Therefore, Faraland officially announced: Starting from September 12, 2021, the 12th of each month will be the fixed monthly date for burning Fara.

Our goal is to balance the game, reduce total supply, and create scarcity to increase the value of the Fara token.

Fara’s token burn rate

As previously announced, some transactions in the Fara ecosystem such as gacha, marketplace, equipment upgrades, .. will incur a fee. The Fara fee is distributed as follows:

Part 1: 75% of this FARA token amount will be used for game-incentive

Part 2: 10% of this FARA token amount will be used for game development

Part 3: 5% of this FARA token amount will be used for burning

Part 4: 10% of this FARA token amount will be used for staking reward

5% of FARA from Gacha and Market fee will be used for burning.