BURNY - THE WORLD'S HYPER SELF-BURNING CRYPTOCURRENCY

In the world of digital assets, there is a wide variety of different token models, many with unique mechanisms and features. Despite this variation, almost all token models generally fall into one of two categories — inflationary and deflationary models.

Inflationary Token Models

An inflationary token model is one where new tokens are added to the market over time, often through some regularly-timed model. This is best demonstrated from a cryptocurrency like Bitcoin which issues 12.5 new Bitcoin every 10 minutes as a reward for mining the next block. Sometimes new tokens aren’t issued via mining, but by the company which created the tokens selling them off in order to fund operations. This can be seen from a company like Ripple (XRP) which has sold off around $1 billion worth of tokens over the past year alone. Outside of cryptocurrencies, almost all traditional fiat currencies operate on inflationary models, with the United States inflating its currency by ~2% per year for the past several years. In the worst cases, this inflation can increase uncontrollably as the governing bodies of the currencies run themselves into massive debt and print more and more money to pay off their debts. Examples of this can be seen from the recent hyperinflation disasters in Venezuela and Zimbabwe where citizens have been carrying wheelbarrows of cash to grocery stores to pay for their food. These countries provide a stark warning about the dangers that inflation can present.
Despite these dangers, the gradual inflation of currencies can have some benefits. For example, many economists agree that the 2% inflation of the U.S. Dollar allows the reduction of people’s debt, the increase of their wages, and an increase in general spending. Generally speaking, however, most of these benefits don’t apply within the world of cryptocurrencies. Even for the most liquid and popular digital asset, Bitcoin, prices have seen massive rises in the face of it’s “Halvening”, suggesting that the lower the inflation of a cryptocurrency, the higher its intrinsic value may be as seen by the general public.

Deflationary Token Models

A deflationary token model, as one may expect, is one where tokens are removed from the market over time. Tokens can be removed from the market via a variety of methods including token buy-backs and token burns from the token creators. The main benefit to models like these is that they prevent the market from being flooded with excess tokens as more are mined, created, or sold off by the creators. While some may argue that decreasing the supply will decrease the actual availability of the token, this is fortunately not the case with cryptocurrencies, as they are divisible up to the 100 millionth, essentially eliminating this problem. The main issue that deflationary tokens present is that they will often be seen as a security in the eyes of regulators. This is because the deflationary mechanisms used to buy the tokens back from the market are generally dependent on the success of the company. If the company performs well, more tokens can be bought from the market which will often improve the health of the ecosystem, and if the company does poorly, they will not have the resources to buy as much off the market leading to an excess supply and often times, and unhealthy ecosystem. Because of this direct relationship between the success of the company and the health of the token ecosystem, these deflationary tokens will almost always be classified as a security. Fortunately, however, if the creators of the token are careful and follow all necessary guidelines around the distribution and sale of the token, there will be no effect on the health of the ecosystem from its classification as a security.

ABOUT BURNY

BURNY is a deflationary cryptocurrency that is an ethereum token utilizing the erc-20 based blockchain infrastructure. It is a social experiment and a financial case study aiming to measure the utility of a deflationary currency.
The project aims not to show new gimmick to deflationary tokens, but to attest the value of what can be done by creating an influential community culture, growing strategic partnerships, along with quality platform development. Building a structure and culture of equitable and transparent distribution is one of the ideas that the founders of the Burny token arrange this.

Burny is a social experiment, but it is also a community with robust organizational culture, a note of inclusion and diversity, and shared community goals. These factors, along with quality planning by the team for dApps and partnerships with other promising projects, will make Burny a great project to be a part of.

HOW IT WORKS

This project's purpose is not to be utilized for daily transactions, but rather as a decentralized boundary against traditional inflationary means. Within a system of immutable smart contracts and endless burning, Burny is the world's hyper self-burning cryptocurrency.

• There were initially 10,000,000 Burny in existence..
• Each time a Burny is transferred, 5% of the transaction is destroyed.
• There will never be newly minted Burny.

Token Details

Project: Burny
Ticker: BRN
Burn Rate: 5% per transaction

Token Allocation

50% Community
30% Development/Marketing
20% Team
Token price: 2.50 USD/BRN

Contrary to most of the crypto-currencies constructed on the blockchain, which are either inflationary or have a fixed number of supply, Burny is designed to be deflationary. With a fixed and an initial quantity of only 10 million tokens, BRNs supply will decrease rapidly with the increase of numbers of users joining the ecosystem, burning more BRN tokens with its growing usage on the Ethereum Blockchain.

Burny is also known as a social experiment on how a community will put value and choose to use it. The operation commences with 10,000,000 tokens. The number of tokens is then below the 10 million starting point because Burny is a deflationary currency. It deflates at a 5% per-transaction rate.

The project aims not to show new gimmick to deflationary tokens, but to attest the value of what can be done by creating an influential community culture, growing strategic partnerships, along with quality platform development. Building a structure and culture of equitable and transparent distribution is one of the ideas that the founders of the Burny token arrange this.

ROADMAP

FOR MORE INFORMATION PLEASE VISIT THE LINKS I HAVE PROVIDED BELOW;

Website: https://burny.io/
Telegram: https://t.me/Burnycommunity
Twitter: https://twitter.com/BurnyToken
Facebook: https://www.facebook.com/BurnyToken
Reddit: https://www.reddit.com/r/BurnyToken/

Author: BrainerdPaul
BitcoinTalk profile link: https://bitcointalk.org/index.php?action=profile;u=1680409