UNICOIN Inferno. First official UNICOIN Burn

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This post is not financial advice. If you decide to follow what I am doing you do so at your own risk.

As you can see in the image, I sent 4.2 UNICOIN to @null to be burned. Of course I wanted the first official burn to have a 4-20 reference. The tokens were sent from the @unicoin.burn account

Basic info about @uni-coin :

Tokens backed by Hive. Regular Buybacks start at 1.01 up to 1.05+ swap.hive. Tokens can also be exchanged for HSBI (an occasionally other tokens) during events.Tokens are only minted once backed by Hive holdings. Regular burns keep circulating supply low.

Current HP: 1448.99

Current circulating supply: 1037.1

As you can see the Hive Power currently outnumbers the tokens in supply by 411.89. That is amazing progress for a new token. That number may go up or down the next month or so , however in general that difference is designed to increase.This is done because tokens are only minted once backed by Hive holdings and minted only as needed.They are not just immediately minted once there is more HP in the account, only minted as needed in addition to that. Regular burns will also keep the circulating supply low.

Oh and did I mention it's also a sustainable tipping token? Tips calls are based on HP delegations not tokens held to pay for the tokens through curation earnings. The tip bot is still in Beta as this has never been done before on Hive, at least that I am aware of. If you know of any tipping bots that use HP delegations instead of tokens held or staked let me know but I couldn't find them and the code to implement this is not readily available. So we are doing it ourselves. It's tricky to implement. Fingers crossed the code is finished this weekend.

I have a couple of posting partners that do burns as well.

I plan to do regular burns at least a couple times a month. I am going a bit slow because I want to make sure the tip bot is well stocked and also some of the tokens from the "burn" account go to posting partners to fund giveaways and promotions.

If you want more info and deep dives visit the @uni-coin account.
❤️🦄