Introducing Verse Burn Engine: Fan the Flames of VERSE Scarcity | by Bitcoin.com | Nov, 2023

Now anyone can permanently reduce the supply of Bitcoin.coms ecosystem token VERSE by triggering the Verse Burn Engine.

Since Bitcoin.coms VERSE launched in Dec 2022, weve burned over 3 billion VERSE tokens, reducing the total supply by 1.6% and the circulating supply by 16%. Our latest burn, on Nov 17, set a new record as the biggest single burn in Verse history, with nearly 549 million tokens removed from circulation forever.

Now, with the launch of Verse Burn Engine, its your turn! Head over to the Verse Burn Engine and trigger the incineration of any and all tokens that have accumulated in the Engine. With Verse Burn Engine, you get to play a role in shaping the economy of Bitcoin.coms rewards and utility token VERSE.

Triggering a Burn

1. Visit the Verse Burn Engine. Its accessible on web or from within the Bitcoin.com Wallet app by tapping on Verse Explorer at the top-right of the apps home screen.
2. Connect your Bitcoin.com Wallet or other web3 self-custody cryptocurrency wallet (eg. MetaMask). Ensure you have at least 10,000 VERSE tokens in your wallet.
3. Select Trigger a Burn and follow the instructions.

And thats it! Once youve approved the transaction, the engine will start up, then incinerate any VERSE it has accumulated since the last time a burn was triggered.

Contributing to the Burn Engine

1. Visit the Verse Burn Engine. Its accessible on web or from within the Bitcoin.com Wallet app by tapping on Verse Explorer at the top-right of the apps home screen.
2. Connect your Bitcoin.com Wallet or other web3 self-custody cryptocurrency wallet (eg. MetaMask). Ensure you have some VERSE to contribute.
3. Select Contribute to Burn Engine and follow the instructions.

And thats it! Any VERSE you contribute to the Engine will accumulate until someone triggers a burn.

The Verse Burn Engine is a decentralized application (DApp) that allows anyone to trigger burns of VERSE tokens. When tokens are burned, they are no long accessible, meaning the total supply of VERSE is reduced forever.

The Verse Burn Engine gradually fills with VERSE tokens over time. Anyone can initiate a burn of the tokens in the Engine by sending 10,000 VERSE to the Engine.

You may be eligible for future rewards such as NFTs for initiating token burns.

When you trigger a token burn, the VERSE tokens you have sent to trigger the burn together with any tokens already in the Verse Burn Engine smart contract are permanently removed from circulation, reducing the total supply of VERSE forever.

Learn more about Verse Burn Engine on Bitcoin.com Support here.