Web3 games platform Tamadoge has recently announced an exciting new burn program aimed at boosting the scarcity and value of its native token, $TAMA. This comprehensive strategy for reducing the circulating supply of $TAMA involves three different burn methods: Mega Burns, Community Burns, and Platform Revenue Burns. The burn program is a key component of Tamadoge’s efforts to secure new centralized exchange listings.
To encourage community involvement, Tamadoge has made the burn program easily accessible to its users. The newly launched Tamadoge Burn Portal provides transparency by sharing the burn schedules for each of the three burn methods. Users can also view a tally of the number of tokens burnt to date. Logged-in users have the additional benefit of seeing a counter of how many TAMA they have personally burned.
Mega Burns
In the fourth quarter of 2023, Tamadoge will hold special promotional events aimed at burning a significant amount of $TAMA tokens. These events will further contribute to the reduction of circulating supply.
Community Burns
Tamadoge encourages community participation by matching the burning of $TAMA tokens by community members. For each $TAMA token burned by the community, Tamadoge will burn an equivalent amount, up to a maximum of 5 million $TAMA. The deadline for community burns is set for November 5, 2023.
Platform Revenue Burns
Another method employed by Tamadoge to burn $TAMA tokens is by converting all revenue generated from Tamadoge platform sales into $TAMA and subsequently burning those tokens. This ensures that the platform’s revenue is contributing to the growth and value of $TAMA.
Burning $TAMA tokens is a straightforward process. Users need to connect their wallets to view their $TAMA balance. Once connected, they can enter the desired amount of tokens they wish to burn and initiate the transaction by clicking the burn button. It is important to note that users will be responsible for paying the Ethereum gas fees associated with these transactions.
The transaction process varies depending on the type of wallet being used. If MetaMask is employed on a desktop computer, the Chrome browser extension handles the transaction. On the other hand, if users are connected with a Tamadoge Wallet (Web3Auth), the transaction will be handled by the Tamadoge and Web3Auth user interface flow. However, the ETH gas fee still needs to be paid, regardless of the wallet used.
The Burn Portal not only displays the burn schedules and the number of tokens burnt, but it also includes additional data points to keep the community informed. These data points include the total TAMA burnt, the total TAMA burnt by the community, and the total TAMA burnt by individual users who are connected to the portal. Tamadoge believes that these new features and burn methods provide an engaging and transparent way for the community to participate in the ecosystem’s growth.
Tamadoge’s CEO, Jon Bishop, expressed his enthusiasm for the start of the burn program. He emphasized the team’s commitment to delivering growth and value to the Tamadoge Army. The introduction of the burn program was a response to the consistent requests from the community to increase burning activities. Bishop commended the development team for delivering an excellent product focused on burning.
In addition to the burn program, Tamadoge recently introduced a staking feature. Currently, 39.7 million $TAMA has been staked, and participants are rewarded with 3 TAMA per ETH block. The staking pool consists of two million $TAMA tokens and is distributed over four months, providing rewards of 500,000 $TAMA per month (approximately 216,000 block confirmations) or 2.3 $TAMA per block confirmation. Staked tokens can be withdrawn at any time, and the annual percentage yield (APY) varies based on the number of staked tokens.
Tamadoge recently rolled out a brand new roadmap, signaling upcoming mystery projects and giveaways. Despite their focus on burn programs and staking features, Tamadoge remains committed to acquiring new gaming users. The project’s strategy includes a marketing campaign aimed at building brand awareness. The Tamaverse ecosystem currently offers six games on two apps, with Tamadoge Arcade hosting five games and Tamadoge Arena featuring a single game. These apps are available on both iOS and Android platforms. While Tamadoge Arena is exclusively for mobile, Tamadoge Arcade games are playable on both web and mobile.
The mobile games market is projected to surpass 2.32 billion users by 2027. In light of this, Tamadoge’s focus on mainstream casual gamers, combined with the utility of the $TAMA token, positions the platform for substantial growth in the months and years ahead.
Tamadoge’s burn program marks an important milestone in the platform’s quest for value and scarcity for its native token, $TAMA. Through its Mega Burns, Community Burns, and Platform Revenue Burns, Tamadoge ensures the reduction of circulating supply while simultaneously fostering community involvement. With the introduction of the Tamadoge Burn Portal, users can easily track burn schedules, token tallies, and their personal burning contributions. Additionally, the staking feature and ongoing game releases demonstrate Tamadoge’s commitment to attracting and retaining gaming users. As the mobile games market continues to grow, Tamadoge’s $TAMA token is poised for remarkable success.