Akitavax’s innovative burning mechanism aims to combat inflation and boost the token price.
Contrary to the shaky events in the crypto industry, good news continues to come from the meme token world in recent days. It seems that many meme projects have started to invest in various technology areas in order to expand their investor base and increase their loyal investor portfolio. Although this activity experienced in meme token projects occasionally leads to small-scale bull periods in the crypto universe, it is obvious that the market is not in its old days yet. Still, it is a fact that these developments are pleasing for the entire cryptocurrency ecosystem.
In addition, looking at these events from another perspective, it is seen that these projects, which are supported by large funds by many investors, have succeeded in satisfying investors by making various technology investments. As it is understood, many meme projects are moving away from the concept of joke and continue on their way as a comprehensive technology platform. In this sense, one of the projects that has attracted the most attention recently is Akitavax.
Brief Explanation of Akitavax
Akitavax is a meme token project on the Avalanche network, with the goal of establishing a technology platform in the crypto universe. When their roadmaps are examined, there are many technologies in the platform they promise to develop; P2E game project, Avapad, a Launchpad structure with a previously announced claiming feature, Burning machine, an AI interface that can output in various formats, and Token Minter interface are among them.
In this sense, it differs from other meme token projects as it is a meme token that debuts with the promise of technology at the beginning. In addition, the news to be published within the scope of the latest development season is eagerly awaited by investors. Apart from that, we saw that they were listed on various exchanges one after the other as part of the listing season announced on social media platforms. Considering all this, it can be seen that they are preparing for a new upward trend that is expected to occur in the crypto sector.
Akitax Token Price Movement
Akitavax is a meme token project that came out at the end of the growth period in the crypto industry, and it can be said that it had an unlucky IDO process in this sense. It is seen that the project, which creates great expectations and potential, entered a downtrend before it could rise sufficiently due to the market’s entry into the bear period. Despite this situation, it is seen that the launch price has moved up to 4 times after ICO. However, despite observing that the price could not hold on there, good news has been coming in recent days in the Akitavax project, which is now in the recovery process. Most recently, Akitavax announced that it has developed an innovative burning mechanism to support the rise in price.
Inflation Barrier: Price-Targeted Burning Machine
All crypto-assets are basically investment instruments, such as gold, silver, real estate, etc., that aim to protect the investor against inflation and contain certain risks within themselves. Cryptocurrencies actually gained this feature due to the limited supply and not being open to central price manipulation. However, we have observed that token prices can succumb to inflation due to changing token distribution techniques in the crypto sector, and the low volume in parities brought about by the increase in the number of projects, making the related parities open to manipulation. In this context, it is understood that investors prefer projects with completed vesting periods in order to protect themselves from inflation, and they consider technical data such as market value and total supply when investing.
Akitavax has developed a solution to this problem and recently announced that it has started to use it in a decentralized structure. Having completed the entire vesting process for Akitax Token, Akitavax announced that it will also use a price-targeted burning mechanism with the burning machine it has developed.
In this mechanism, when the price reaches certain limits, the previously announced amount to be burned will be automatically burned, and it has been announced that a total of 1.6 million USD and 10.5 percent of the total Akitax Token supply will be burned. It is understood that it is guaranteed that the price limits on the burning machine, which has achieved a decentralized structure with the Chainlink Automation integration, cannot be changed.
It is understood that the first price limit announced has been exceeded and the burn has been carried out, and as a result, the effect of the mechanism on the increase in demand can be seen even in bad market conditions.
Learn more about Akitavax: Linktree
