How to Apply Burn Rate for your Deflationary Token - Bitbond
Easily create a deflationary token with Token Tool: https://tokentool.bitbond.com/create-...
You can edit the burn rate under the manage token function:
https://tokentool.bitbond.com/managet...
All details can be found in our documentation below:
https://docs.bitbond.com/asset-tokeni...
Hi everyone, and welcome to this demo on how to apply a burn fee for your token, also known as a deflationary token, in 3 easy steps. Bitbond Token Tool enables you to easily configure and create smart contracts without any coding.
Step 1:
First, go to tokentool.bitbond.com and click on the "Connect Wallet" button. Select your designated wallet and blockchain network.
Step 2:
In the sidebar, go to “Manage Token” and choose your token from the dropdown menu. Alternatively, paste the contract address. Then, click continue.
Step 3:
Editing deflation settings is only possible if activated upon token creation.
Select “edit deflation settings”. Here you can change the specified portion of a token that will be burnt per transaction. The rate is set in basis points so, 350 represents 3.5%.
Next, click “submit” and confirm the transaction in your wallet to pay fees.
Conclusion
That's it! You now learned how to easily edit deflation settings for your token.
Bitbond Token Tool - Tokens made easy!