Burn

Burn

During the launch phase of Our.glass, 50 trillion GLASS were sent to the 0x000-01 burn address. A burn address is simply a wallet that no one can or will ever have access to. By sending GLASS to the burn address, the burn address became a GLASS holder - and like all other GLASS holders, the burn address receives a portion of all the GLASS transaction fees. But unlike all the other holders of GLASS, these GLASS can not be moved, ever. This creates a permanent burn of GLASS, making the token supply deflationary. This also strengthens the ever-growing price floor from the auto liquidity being stacked by transaction fees. A simple way to explain this is: When coins are sent to the burn address, they are coins that can never be sold. So they are negative-sell-pressure.