Burning

Burning is a strategic mechanism employed by the Cryptoindex platform to maintain and enhance the value of the INDX token by reducing its total supply over time:

1. Percentage of Net Profit Allocation:

   • Percentage: The platform allocates 5.0% of its net profit to token burning.

   • Purpose: This allocation aims to regularly reduce the circulating supply of INDX tokens, contributing to an increase in their scarcity and, potentially, their value.

2. Burning Regularity:

   • Frequency: Tokens are burned on a monthly basis.

   • Procedure: At the end of each month, the platform calculates the net profit and allocates 5.0% of this profit to buy back INDX tokens from the market. These tokens are then permanently removed from circulation by sending them to a null contract address, ensuring they can never be retrieved or used again.

3. Transparency and Reporting:

   • Public Announcements: Every burning event will be publicly announced through the platform's official communication channels.

   • Burn Reports: Detailed burn reports will be published after each event, outlining the number of tokens burned, the transaction details, and the updated circulating supply of INDX tokens.