💡What we do
Summary: BlockBurns provides Public Burn Addresses for EVM Tokens on Ethereum, Polygon, Arbitrum, Optimism, BSC, Avalanche, and Fantom. We also offer Burn Addresses for many non-EVM Tokens on Bitcoin, Solana, Cardano, Polkadot, and more!
A cryptocurrency burn address refers to a specific wallet address intentionally created to receive and hold tokens or coins that are permanently removed from circulation. These tokens can be removed from individual wallets or project wallets. The reasons may vary for burning, but there are distinct benefits to using BlockBurns burn addresses.
Why use BlockBurns Public Burn Addresses?
Irretrievable Tokens: A burn address is designed to be a one-way destination for tokens. Once tokens are sent to a burn address, they become irretrievable and are permanently removed from circulation.
Publicly Known Addresses: Our burn addresses are publicly known and widely shared within the cryptocurrency community. Transparency is important to instill trust and confidence among token holders, as they can independently verify the tokens' destruction and ensure the integrity of the burn process.
Verification and Auditability: The burn address allows for transparent verification and auditability of token burns. Blockchain explorers and analytics tools enable users to monitor the balance of the burn address, ensuring that the tokens sent to the address remain untouched and permanently locked.
Zero Private Key: A burn address is typically created without an associated private key. This ensures that no one has control over the tokens sent to the burn address, as there is no corresponding private key that could be used to access or transfer the tokens. The absence of a private key provides an additional layer of security to prevent unauthorized access.
Token Removal Mechanism: A burn address serves as a deliberate mechanism for token removal from circulation. It is often used by project developers or token issuers to reduce the overall token supply, adjust token economics, or implement deflationary mechanisms within the cryptocurrency ecosystem.
Integrity Assurance: By utilizing a burn address, token issuers can demonstrate their commitment to fair distribution and tokenomics. The use of a burn address ensures that the tokens allocated for burning are permanently locked away, establishing credibility and enhancing trust among token holders.
Address Compatibility: A burn address adheres to the standard address format of the respective blockchain. It can be used like any other wallet address and can receive tokens from any source or participant within the network. This compatibility ensures seamless integration with existing wallets, exchanges, and other cryptocurrency services.
No Development: It doesn't require development or knowledge about coding to use a burn address (unlike the burn() function). Therefore burn addresses can be used by anyone from their wallet.
Burning without burn() function: Some contracts were deployed without a burn() function which makes it impossible to burn tokens without a burn address. However, they can still burn their tokens using a public burn address!
What are the BlockBurns fees?
Burning any Digital Assets by using one of our Burn Addresses is Free
Relaying Digital Assets programmatically to a whitelisted Burn Address via the Website Interface (Soon) incurs a 1% Fee
Relaying Digital Assets manually to a whitelisted Burn Address or Origin Address incurs a 3% Fee
Locking up (Soon) Digital Assets (Tokens or LP) incurs a 1% Fee
White-hat Bounty Reward is a 10% Fee
Fees can be deducted from the already sent Digital Assets or sent in advance to a BlockBurns fee collection wallet.
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