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CNR Token, the native utility token of the Canary ecosystem, has undergone a transformative upgrade. At the heart of this upgrade lies the introduction of an automatic burning mechanism, a groundbreaking feature that dynamically adjusts the CNR Total Supply.
The auto-burn contract is a sophisticated smart contract designed to automatically reduce the CNR Total Supply at regular intervals. This mechanism ensures a gradual decrease in the total supply of CNR Tokens, contributing to increased scarcity over time. As a result, this innovative approach seeks to address concerns related to tokenomics, fostering a deflationary model that benefits long-term holders.
This shift in CNR Tokenomics brings several noteworthy implications. By reducing the Total Supply, the auto-burn mechanism aims to create a scarcity effect, potentially influencing the token's value positively. Moreover, as the circulating supply decreases, the deflationary nature may contribute to greater stability and sustainability.