What started as an experiment with the first deflationary currency has turned into a revelation of the economics on coin structure. Well, the experiment is over. There have been multiple tokens and coins testing out the theory on deflating supply to increase demand.
We are creating a a currency that burns at a 3% rate of the course of its token life span. While 2% of every transaction will be burnt forever, 1% goes back to The Inferno Token Foundation. Also, as part of the 1 million airdrop available on our website. For every claim on the site another transaction will be created to return to the team. This fund will be used for airdrops, bounties, competitions and exchange listings. With creation of new tokens while tokens are being burned this will enhance to token life span and create an economically stable token to ensure the ITF and token are here to stay.
The Inferno Token Foundation was founded to support different groups and competitions in the community. The original plan was to donate 1% of all transaction to a crypto charity or foundation. We found that upon further inspection this was harder than we thought as none of the established organizations accepted tokens. So, the 1% will go to the ITF and the community will decide where these funds will be best utilized. From sponsoring a game tournament to increase crypto awareness to helping disaster relief anywhere in the world. As a community the ITF will help for crypto awareness worldwide.