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What exactly is token burning and why is it done?

Grant

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Oct 27, 2020
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I hear that token burning is when you remove a select amount of crypto from the market and remove it from circulation. But what happens with the tokens when they're burnt? Do they become useless and go to the ether? Where does it go? And why is it done in the first place? I've heard about it before, but never knew exactly what it meant.
 

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