Deflation, Buyback & Burn

Understanding Our Approach to Deflation

At BasketCoin, we believe in the power of deflationary mechanisms to enhance the value and stability of our cryptocurrency. Our approach is carefully designed to create a sustainable, growth-oriented economic environment for our token.

Automated Deflationary Processes

Our smart contracts are intricately designed to enforce deflationary measures autonomously. A standout feature is the automatic burning of 1% with every transaction. This mechanism is hard-coded into the contract, ensuring that a fraction of every transaction is irreversibly removed from circulation.

Unlike many cryptocurrencies that have a fixed supply model (like Bitcoin) or the unlimited supply model (like Ethereum), Basketcoin adopts a unique model where the total supply gradually decreases over time. By decreasing the total token supply, we anticipate an increase in demand and value per token, especially as our platform grows and attracts more users.

Buyback & Burn

This process is akin to a company buying back its shares. Cryptocurrencies from The Basket are utilized across numerous trusted Staking and DeFi platforms, enhancing the buy-back and burn process. 45% of revenue generated from staked cryptocurrencies is used to buy back BSKT tokens which are then allocated to be burned on a quarterly basis, permanently reducing the token supply, thus creating a deflationary impact. We implement periodic Buyback & Burn events transparently, ensuring our community is always informed.