Tamadoge, a leading web3 games platform, has recently unveiled an exciting new burn program aimed at enhancing the scarcity and value of its native token, $TAMA. This comprehensive strategy focuses on reducing the circulating supply of $TAMA by implementing three distinct methods: Mega Burns, Community Burns, and Platform Revenue Burns.
To kickstart the burn program, Tamadoge has planned special promotional events in the fourth quarter of 2023. These events aim to burn a significant amount of $TAMA tokens, further tightening the token’s supply and increasing its value.
Tamadoge places a strong emphasis on community involvement, and the burn program reflects this value. For every $TAMA token the community chooses to burn, Tamadoge will match it by burning an equivalent amount of $TAMA, up to 5 million tokens. This part of the program will run until November 5, 2023, providing ample opportunity for community members to actively participate in shaping the ecosystem’s growth.
Tamadoge has set a pioneering precedent by committing to convert all revenue generated from platform sales into $TAMA tokens, which will subsequently be burnt. This approach ensures that every transaction and activity within the Tamadoge ecosystem contributes to reducing the token’s supply, adding further value to $TAMA.
Tamadoge understands the importance of seamless user experiences and has incorporated this principle into the burn program. The recently launched Tamadoge Burn Portal provides users with easy access to the burn schedules, allowing them to stay up-to-date with the burning events. Additionally, the Burn Portal includes a tally of the total number of tokens burnt to date, enhancing transparency within the ecosystem.
Participating in the burn program is straightforward. Users can simply connect their wallets to view their $TAMA balance, enter the desired amount of tokens to burn, and click the burn button to initiate and complete the transaction. It is essential to note that users are responsible for paying the Ethereum gas fees associated with these transactions, so it is advisable to choose a time when the network is less congested.
Depending on users’ chosen method of connection, the burn process will be handled either by the Chrome browser extension in the case of desktop users utilizing MetaMask, or by the Tamadoge and Web3Auth user interface flow for those connected with a Tamadoge Wallet (Web3Auth). Regardless of the connection method, users can conveniently burn $TAMA tokens while being actively engaged in the ecosystem.
The Burn Portal provides vital data points to keep the community well-informed. It displays the total number of $TAMA tokens burnt, as well as the specific amounts burnt by the community and by individual users who are logged in. By facilitating this transparency, Tamadoge aims to foster an engaging environment where community members can actively participate in the token’s value growth.
Tamadoge CEO Jon Bishop expressed his commitment to fulfilling the community’s requests by announcing the burn program. Bishop recognizes the community’s desire for increased burning and applauds the team for delivering an exceptional product centered around this feature. He emphasized the team’s dedication to bringing growth and value to the Tamadoge Army and expressed genuine pride in the burning initiatives.
Last week, Tamadoge introduced a new staking feature, which has quickly gained popularity. Currently, 39.7 million $TAMA tokens have been staked, with rewards of 3 TAMA per ETH block. To incentivize staking, Tamadoge has set aside a staking pool of two million $TAMA tokens for distributing rewards. This pool will be allocated over four months, resulting in 500,000 $TAMA tokens per month, or approximately 216,000 block confirmations.
Tamadoge’s staking mechanism allows users to withdraw their staked tokens at any time, providing flexibility and accessibility. Additionally, the annual percentage yield (APY) varies based on the number of staked tokens. Each staker’s earnings depend on their percentage of the staking pool and the current APY, which currently stands at 5.1%. This dynamic system ensures fair rewards for stakers while contributing to the overall growth and success of the Tamadoge ecosystem.
Tamadoge has recently unveiled an exciting new roadmap that promises mystery projects and giveaways in the coming days and weeks. In addition to its game releases, the project has strategically focused on user acquisition and brand awareness. With six games already launched on its Tamadoge Arcade and Tamadoge Arena apps, the platform has garnered positive feedback from users. Moreover, Tamadoge has secured listings for its $TAMA token on various crypto trading venues, including prominent exchanges like OKX and Bybit.
The mobile games market is projected to exceed 2.32 billion users by 2027, providing a vast user base for Tamadoge’s innovative gaming platform. With a specific emphasis on mainstream casual gamers and the unique value proposition of the $TAMA token, Tamadoge anticipates substantial growth in the months and years ahead. As the platform continues to release new games and increase its brand visibility, Tamadoge is poised to become a prominent player in the web3 gaming industry.
Tamadoge’s new burn program represents a significant milestone in enhancing the scarcity and value of the $TAMA token. By prioritizing community involvement, maintaining transparency, and introducing innovative burning methods, Tamadoge establishes itself as a pioneering platform that actively engages its users. With the recent introduction of staking features and the roadmap’s exciting developments, Tamadoge’s future looks bright in the thriving mobile gaming market.