what's the purpose of burning coins?
Every 6 months we will buy back tokens with 10% of our profits and destroy them. This helps reduce supply and increase the price of our coin for our community of lenders and traders, all while maintaining sustainable lending rates. Along with the rest of our ecosystem, we believe this shows confidence in our coin.
Destroy tokens are something that many ICO projects do, but destroy tokens can't sold. It seems like team were very enthusiastic about the project, buying 10% of profits every six months and burning them. The goal of supplying less than demand will increase the value of Eigencoin.