Yesterday the Pteria DAO team announced the greatest burning for a ERC20 token ever: in fact, their total supply will be reduced of 13,8 million, going from 21 million to 7.2 million.
This will be possible thanks to one of the most important burning of all time in the crypto world, considering that we are talking about a burning activity of more than 13,8 million tokens (65% of the total supply).
Also, Pteria DAO announced that, of these 7.2M Pteria, 2.1 M Pteria will be donated to third party projects that have great burning potential.
Pteria DAO already gave another 2.5 million to Wallem — the first project to receive PTERIA tokens from the DAO — that has already burned 70,262 Pteria, or about 1% of the total supply.
Also, in a few weeks, PTERIA will put in place a staking system through which token-holders will have the possibility to receive rewards in Bitcoin, Ethereum and Pteria, in proportion to how many tokens they have put in the DAO.
The rewards come from the sale of the NFTs issued by the DAO itself and from the proceeds generated by the collaboration with external projects.
Pteria and NFTs
Each of the game’s skins has their own corresponding NFT, so those who buy the non-fungible token will be entitled to 10% of all the rewards the player collects in the app, plus 100% of the PTE spent in the app to buy the corresponding avatar.
This applies in the case of the PewDiePie NFT, which is why it was sold at 60 ETH, given the passive income it could generate over time.
Pteria and Wallem
Wallem is a mobile application available on both iOS and Android. It is a game similar to Pokemon Go but to catch real products such as Armani Exchange watches and sunglasses, Amazon discounts and much more.
To catch these products, a user has to download the app and join Wallem’s events using Pteria tokens.