cMyKatz — Burn, Burn, Burn! (Pt.2)
The importance of burning and how you only win if you do.
Yesterday I published my first article on cMyKatz ‘A full guide to minting, staking, burning and resurrecting cMyKats (Pt.1)’. Go and check it out if you’ve arrived here first.
In this article I explain the importance of burning your Katz.
Updated 03/10/2021 06:40 UTC - WARNING: BURNING YOUR KAT NO LONGER YIELDS A NEW ONE SINCE TOTAL SUPPLY HAS NOW BEEN MNTED. Please keen an eye out for Pt.3.
What is Burning?
Burning a Kat removes it from supply. It can no longer be staked, transferred or sold.
Every time a Kat was burnt, it lowered the maximum total supply.
Once where there was a total supply of 10,000, by burning one you reduce the maximum supply to 9,999.
All Katz have now been burned — regularly updated stats are available on Discord.
Burn, Exchange, Reroll.
Every time you burnt a Kat, it was exchanged for a new one from the new supply.
The aim was to obtain a rare one by burning the common Katz, reducing supply, increasing demand and thus increasing the floor.
The aim was to reduce supply as quickly as possible before the total supply had been minted.
After a seriously bullish burn run, the community managed to burn 5444 Katz!
Stake Your Katz.
Once you have a rare one, stake it. When your cat is staked it’s hunting for $MIECE.
$MIECE is the utility token and will have future value, so be sure to accrue them. We explain how to do this in Pt.1.
What if You’re a New Kat Holder?
If you haven’t bought the floor yet, head over to Opensea. (At the time of writing the floor is 0.275).
The same applies.
Buy the common Katz off the floor, stake them.
Happy Hunting!
Now go and listen to this classic from The Tramps… Burn Baby Burn, Disco Inferno!!!
https://www.youtube.com/watch?v=u5lSeYd_riw
Thanks
Thanks to everyone who shared Part One countless times in the last 24 hours. The feedback means a lot to me, so if you like what you’re reading, give me a follow on Twitter and head over there to share Part One and Part Two.
Again, Thanks to cMyKatz developers and team, InsaneHits, psynhuman & psyspiral for allowing me to reuse their content and to publish this article on the projects behalf. Check out cmyKatz on Discord and Twitter and see the collection on OpenSea.
