Token-Burn Auctions
Bionic DAO offers a unique token-burn auction mechanism for members seeking a guaranteed allocation in a specific Bionic Presale. This process allows members to burn $BCNX tokens to secure a spot in Bionic Presale allocations.
Token-Burn Auction Process:
Step 1: Place Token Burn Bids. Members specify the amount of $BCNX tokens they are willing to burn as bids for their desired allocation.
Step 2: Auction Launch. The auction commences on a predetermined date, during which member's bids are compared.
Step 3: Determine Winners. At the auction's closure, bids are ranked, and the highest token bids win the presale allocation spots.
Step 4: Token Burning. The $BCNX tokens bid by the winning members are irrevocably burned, permanently reducing the total $BCNX supply.
Step 5: Allocation Guarantee. Members participating in the token-burning successfully secure their guaranteed allocation in the project.
The token-burn auction ensures that committed members obtain their desired investment opportunities. It also enhances the token's value by reducing supply and aligning incentives between the DAO and its active participants.
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