Thursday, September 7th, 2023 – Web3 games platform Tamadoge today announces an exciting new burn program to boost the scarcity and value of its native token, $TAMA.
The burn program starts today as part of Tamadoge’s comprehensive strategy for reducing the circulating supply of $TAMA. The Tamadoge team is targeting new centralized exchange listings, and the burn program is a key part of that push.
There are three methods used in the burn program: Mega Burns, Community Burns, and Platform Revenue Burns.
Ease of use is at the center of everything Tamadoge does, and it is no different when it comes to involving the community with the burning program.
As such, to encourage community involvement, each of the three types of burn and their schedules are available for all to see on the newly launched Tamadoge Burn Portal.
In addition to the burn schedules, the Burn Portal keeps a tally of the number of tokens burnt to date. Logged-in users will also be able to see a counter of how many TAMA they have burned.
Tamadoge Burn Portal – there are 3 burn methods:
Mega Burns
There will be special promotional events aimed at burning a significant amount of $TAMA tokens in the fourth quarter of 2023.
Community Burns
For each $TAMA token that the community opts to burn, Tamadoge will match it by burning an equivalent amount of $TAMA, up to 5 million $TAMA. This part of the program will end on November 5, 2023.
Platform Revenue Burns
All revenue generated from Tamadoge platform sales will be converted into $TAMA tokens and subsequently burnt.
Tamadoge makes it easier than ever for the community to participate in burning
To get started with burning, simply connect your wallet to view your $TAMA balance, enter the amount of token you wish to burn, and then click the burn button to initiate and complete the transaction.
Users will, of course, be responsible for paying the Ethereum gas fees for these transactions, so it is best to burn when the network is least busy.
For those using MetaMask on a desktop computer, the transaction will be handled by the Chrome browser extension. Alternatively, if you are connected with a Tamadoge Wallet (Web3Auth), the transaction will be handled by the Tamadoge and Web3Auth user interface flow, although you will still need to pay ETH gas fee.
Keeping the community up to date, the Burn Portal includes the following data points:
- Total TAMA burnt
- Total TAMA burnt by community
- Total TAMA burnt by user (if connected)
Tamadoge believes these new features and burn methods provide an engaging and transparent way for the community to participate in the ecosystem’s growth.
Tamadoge CEO Jon Bishop, commenting on the start of the burn program, said: “We’re always looking for ways to bring coin growth and value to the Tamadoge Army.
“One thing that the community has consistently asked for is for us to do more burning, and today I am proud to announce that the team has delivered on that request. The product they have delivered around burning is excellent.”
Staking launched last week – Nearly 40 million $TAMA staked
Last week Tamadoge unveiled its new staking feature. So far 39.7 million $TAMA has been staked. $TAMA are rewarded at a rate of 3 TAMA per ETH block.
A staking pool of two million $TAMA tokens has been set aside to distribute rewards. The pool is split across four months, so that’s 500,000 $TAMA per month (approximately 216,000 block confirmations), equalling 2.3 $TAMA per block confirmation.
It is a dynamic system, which means staked tokens can be withdrawn at any time, while the annual percentage yield (APY) is variable, depending on the number of staked tokens.
The amount each staker earns depends on their percentage of the staking pool and the current APY, which at the time of writing stood at 5.1%
Tamadoge roadmap primes the Web3 games platform for stellar growth
A brand new Tamadoge roadmap has recently been rolled out. Over the coming days and weeks, mystery projects and giveaways will be announced. The news follows a stream of game releases from the Web3 gaming project.
However, far from stepping back from gaming user acquisition, that part of the project strategy remains very much intact. Rather, the new marketing campaign is supplementing those efforts with its focus on building brand awareness.
The growing Tamaverse ecosystem has launched six games on two apps – five games on Tamadoge Arcade and a sixth game called Tamadoge Arena, which has its own app. Both apps are available in the iOS and Android app stores.
Tamadoge Arena is a single game with three levels. All six games have been well received by the community. Tamadoge Arena is mobile-only, while the Tamdoge Arcade games can be played on both web and mobile.
Tamadoge’s $TAMA token is currently listed on 12 crypto trading venues, including top-tier centralized exchanges OKX, and Bybit.
The mobile games market is on track to exceed 2.32 billion users by 2027, according to data compiled by Statista. With that in mind, Tamadoge, with its focus on the mainstream casual gamer, and the $TAMA token, can look forward to stellar growth in the coming months and years.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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