Quote from: crypto_geek55 on May 27, 2020, 09:22:15 AM

BOOM is a new type of utility token with a self-destructing mechanism, based on Ethereum smart contract. They’re now listed as the project with the highest market value among all deflationary tokens on etherscan https://etherscan.io/tokens/label/deflationary-token

BOOM project is a social experiment, aiming at exploring the market influence of an extremely deflationary cryptocurrency, and it will validate the effect of BOOM token as a hedge against the rapid inflation in token ecosystem.

The origin of BOOM is simple, once users transfer BOOM to others, 1% of the total transfer amount is automatically destroyed at the same time. The initial total supply of BOOM is 1 billion. The supply will decrease due to transactions, and no new BOOM will be issued then.

The destruction of BOOM token will run automatically on chain, written in Ethereum smart contract. No one can interfere.

When taking insight into bitcoin and litecoin supply halving history, you can find that destroying the liquidity can cause positive market expectations, and may cause a value increase. Now Boom provides a whole new supply curve, which is much more radical. It is a direct reduction in supply of token.

As users increase and BOOM circulation speeds up, destruction of BOOM will also accelerate. Once a user buys BOOM, he/she can only sell 99% to others, so the ‘Price Increase’ Expectation will be there naturally. That situation makes users prefer to hodl, if the pump is not big enough.

Boom website: https://www.boomtoken.io/

Coinmarketcap Statistics: https://coinmarketcap.com/currencies/boom/

Trade at Bitmart: https://www.bitmart.com/trade/en?symbol=BOOM_BTC

Reduced supply always leads to more price increases, that's the main idea of Burning tokens. Also, most projects have a different form of token burning, wherein the purchase of their product leads to token burning, in the long run reducing the supply, in the case of others, the team will set a time to buy back and burn their tokens. However, my humble opinion is, the team should put more effort into adding value to their product so, token burning will lead to more price hikes.