Wall Street Memes Ignite: Don't Miss 5% $WSM Burn 🔥🔥

Wall Street Memes Introduces Burn Mechanism to Reduce Supply

Tuesday, February 20th, 2024 – Wall Street Memes has implemented a new burn mechanism that will remove 5% of the $WSM token supply. This change comes after the company decided to modify its original plan of a 10% buyback of Net Gaming Revenue. Now, 100% of the revenue generated by WSM Casino will be subject to the burn mechanism.

The first burn event is scheduled for February 29th, during which around 100 million tokens will be burnt, equating to approximately 5% of the total $WSM supply. The burn mechanism aims to reduce circulating supply and have a deflationary impact on the value of $WSM tokens.

How Does the Wall Street Memes Burn Mechanism Work?

The burn mechanism is designed to decrease the circulating supply of $WSM tokens. Here’s how it works:

5% of the $WSM token supply will be burnt
The burn events will occur monthly
All Net Gaming Revenue generated between October 2023 and January 2024 will be subject to the first burn event
Progress on burn events can be tracked on the WSM Web3 Dashboard starting from February 29th

Will the First Major Burn Event Boost $WSM Price?

The recent growth of ERC-20 meme coins has been hindered by congestion and high fees on the Ethereum network. However, despite these challenges, $WSM has performed well compared to its Solana-based rivals. Technical indicators suggest that $WSM is in a bullish position and poised for further growth. The upcoming 5% burn event on February 29th could serve as a catalyst for the price of $WSM tokens.

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Hot Take: Wall Street Memes’ Burn Mechanism Sparks Excitement

Tuesday, February 20th, 2024 – Wall Street Memes has introduced a new burn mechanism that will remove 5% of the $WSM token supply. This change aims to reduce circulating supply and have a deflationary impact on the value of $WSM tokens. The first burn event is scheduled for February 29th, and it could potentially boost the price of $WSM tokens. Stay updated on Wall Street Memes’ progress by following them on social media and don’t miss out on this exciting development!