Almost 60% of the circulating supply of utility tokens will be burned
SAN FRANCISCO, April 26, 2023 /PRNewswire/ -- VIMworld, the immersive NFT utility platform, today announced that it will burn over 44 million POWA tokens on Binance Smart Chain. This represents nearly 60% of POWA's outstanding supply at the time of the announcement.
Community members have spent large amounts of POWA since the token was introduced in February of this year. Previously, VIMworld announced that all POWA spent by the community on the VIMworld platform would be burned and this is the first time that tokens will be burned. To add to the fun, VIMworld will be streaming the event live via their Discord server on Friday, April 28, 2023 at 10am PDT.
How to buy POWA
In addition to a VEED/POWA pair, VIMworld has just launched a new BNB/POWA pair powered by PancakeSwap to simplify the direct purchase of POWA tokens. All three VIMworld related token pairs can be found in the new DeFi Hub section of the VIMworld site.
How to earn POWA
Users get POWA once a SmartNFT VIM reaches Tier C based on the number of VEED tokens stored inside. Users can also earn POWA by performing positive actions on the platform, such as purchasing or listing on the Marketplace. Tier S and above SmartNFT VIMs with Treasures will generate additional POWA tokens.
POWA's main focuses are utility governance and DeFi. Users can use POWA on the VIMworld platform to purchase Incubators, unlock additional uses and power-ups for Incubators, purchase special items within VIMworld, and obtain power-ups to increase VIM's stats.
The POWA supply does not have a defined limit, but there will be numerous ways to use, lock, and burn POWA tokens. Since generation rates are variable, the VIMworld team actively monitors supply to balance inflation and deflation.
VIMworld's POWA product team is in charge of maximizing the impact of the token in the coming months, so additional opportunities to earn POWA will be launched. With more POWA utilities also planned and an increasing role in the governance of the platform's DeFi product suite, both the demand for POWA tokens and the amount burned will only increase.
To get started, users can buy a new SmartNFT in the Arcade or a used one in the Marketplace, with a variety of levels and treasures. With a VIM in hand, users can expand their opportunities to play and earn more by purchasing Boxes in the Shop, which contain unique and rare EGGs. Purchase an Incubator and VIM level C or higher to coincide with the start of the hatching process, which is now available for all users to enjoy.
New updates to VIMworld add more ways to have fun and earn rewards, making it one of the most exciting platforms out there! Interested users can visit VIMworld, join Discord or watch Vision Video for more information. VIMworld's upcoming releases, including games, decentralized finance (DeFi) features, and increased multi-chain support, are just around the corner.
Access VIMworld now
VIMworld is a revolutionary non-fungible token (NFT) ecosystem that creates a space where entrepreneurship and play combine and thrive. At the heart of VIMworld are VIMs, distinct and immutable digital assets that provide an unalterable system of verification. VIMs can hatch EGGS Companions, which allow users to win instant prizes, add unique abilities and power up games, making VIMworld the ultimate NFT platform to play and win.
To connect to VIMworld and explore all the features, download our specially designed NFT and crypto wallet, Nufinetes compatible with Apple and Android devices or the desktop of your choice. This comprehensive multi-chain wallet can be used on several popular blockchains, allowing users to interact with dApps, view NFT collections, and store tokens in a secure and elegant environment.
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