In the Dogechain Ecosystem, interaction and communication among community members are never lacking thanks to the tools delivered by DogeTools.
DogeTools is a tooling project that focuses on community interaction and engagement. Their goal is to bring communities together, make them enjoy their company, and also let them discover new projects. To achieve this and serve user interests, their main target is to build different utilities for Dogechain users.
One of their first tools is the TipBot, which enables users to tip their friends and rain $DC, $wDOGE, and other DOG20 tokens easily in different Dogechain-based Telegram community groups.
However, DogeTools did not stop there. They also launched another tool that can help reduce the supply of DC and other Dogechain-based tokens, making them more scarce and valuable. This tool is called the BurnBot, and it allows users to burn tokens for free through Telegram.
The BurnBot is a simple and fun way to participate in the deflationary mechanism of the Dogechain. Users can choose to burn any amount of DC or other DOG20 tokens that they own, and the BurnBot will send them a confirmation message with the number of tokens burned and the remaining supply. The BurnBot also keeps track of the total amount of tokens burned by all users.
So, if you have always wanted the supply of DC to be reduced somewhat more, now you can with the new DogeTools BurnBot. If you can tip and receive tips using the TipBot, you can also burn tokens using the BurnBot.
So “wen burn?”; burn is now!
The Benefits of the BurnBot to Dogechain and Other Projects
The BurnBot is a beneficial one for the Dogechain and other projects in the Dogechain ecosystem, which empowers users to burn tokens for free and contribute to the following benefits:
- Making Tokens More Scarce & Valuable.
By reducing the supply of DC and other DOG20 tokens, the BurnBot creates a deflationary pressure that can increase the demand and price of the tokens. This benefits both the holders and the projects, as their tokens become more attractive and valuable in the market.
2. Supporting the Dogechain Network.
Every transaction on the BurnBot also has a 0.03% fee, which will be burnt once every week across all tokens. This means that every time a user burns tokens using the BurnBot, they also burn the fees involved in the transactions.
3. Promoting Community Engagement & Awareness.
The BurnBot also serves as a platform for community engagement and awareness. The bot triggers a lot of interaction once in use, and users can discover new projects and tokens in the Dogechain ecosystem.
How to Get Started with the BurnBot
If you are interested in using the BurnBot to burn tokens, you will need to have some Dogechain-based tokens in your wallet, which is also the same wallet that you use for tipping and raining tokens with the TipBot.
Here are the steps to get started with the BurnBot:
- Go to the DogeTools TipBot on Telegram.
- Click on “/start” and it will give you your wallet address and private key.
- Import your private key into your MetaMask wallet.
- Add the contract addresses of the DOG20 tokens that you want to burn to your MetaMask wallet. You can find the contract addresses of some popular tokens on Dogechain Explorer
- Send some tokens from your main wallet to your TipBot/BurnBot wallet.
Note: Since the wallet also serves as your tip wallet, you can tip and rain tokens on community members and you can also burn them. It is advisable to not use this as your main wallet, as it is less secure than your wallet.
Once you have some tokens in your TipBot/BurnBot wallet, you are ready to burn them using the BurnBot.
How to Use the BurnBot Commands in a Dogechain Community
The BurnBot is a tool that allows you to burn tokens from your TipBot/BurnBot wallet through Telegram. However, you can only use the BurnBot in a Dogechain community that supports the bot. This means that the community must have added the BurnBot to their group and enabled the burning of their tokens.
To use the BurnBot commands in a Dogechain community, you need to type them in the chat box and send them. The BurnBot will reply to your commands and perform the actions that you request.
Here are the commands that you can use with the BurnBot:
- /burn [amount] [token symbol]
This command burns tokens from your TipBot/BurnBot wallet. For example, “/burn 100 DC” will burn 100 DC tokens from your wallet.
The bot will send your tokens to the dead address, which means they are permanently removed from circulation. You will get a confirmation message and a receipt link.
2. /burned [token symbol or timeframe]
This command pulls up the stats of burned tokens. It works with projects or timeframes. You can check the stats of how many tokens have been burned by yourself or by others with this command. You either specify a project’s token or a timeframe to filter the results.
For example, “/burned DC” will show you how many DC tokens have been burned so far, and “/burned 7d” will show you how many tokens have been burned in the last 7 days. Other suffixes include s for seconds, m for minutes, h for hours, w for weeks, M for months, and Y for years.
3. /plot [timeframe] [token symbol]
This command plots a graph for a featured project whose tokens were burned through the bot. You can plot a graph of the burned tokens for a featured project with this command. You need to specify a timeframe and a project token.
For example, “/plot 7d DC” will show you a graph of how many DC tokens have been burned in the last 7 days.
This command gets the stats of the tokens burned by you. It shows you how many tokens of each project you have burned so far and how much they are worth in USD.
That’s it! It’s that easy and fun to burn tokens with the DogeTools Burn Bot!
Note: Burning tokens means the tokens are taken out of circulation and supply forever and can never be recovered. That is, all burns are final and irreversible, so be careful and responsible with your burning spree and only burn what you can afford to give away without regrets.
Also, don’t forget to tip your fellow Dogechain enthusiasts with /tip command and support the amazing projects on Dogechain!
The DogeTools BurnBot is a great utility for the Dogechain community and a way to show your love for Dogechain and its projects!
Learn more about DogeTools here.
Stay tuned for updates and announcements by joining the Dogechain Family community on all channels: https://linktr.ee/dogechain