Almost 60% of Circulating Supply of Utility Token Will Be Burned
SAN FRANCISCO, April 25, 2023 /PRNewswire/ — VIMworld, the immersive NFT utility platform announced today that it will burn over 44 Million POWA tokens on Binance Smart Chain. This represents almost 60% of the circulating supply of POWA at the time of the announcement.
Vast quantities of POWA have been spent by community members since the token was introduced in February of this year. Previously, VIMworld announced that all POWA spent by the community on the VIMworld platform will be burned and this is the first time a token burn will take place. To add to the fun, VIMworld will livestream the event on its Discord server on Friday 28th April 2023 at 10am PDT.
How to Buy POWA
In addition to a VEED/POWA pair, VIMworld just released a new BNB/POWA pair powered by PancakeSwap to simplify direct purchase of POWA tokens. All three VIMworld related token pairs can be found on the new DeFi Hub section of the VIMworld site.
How to Earn POWA
Users earn POWA once a SmartNFT VIM has reached C-tier based on the amount of VEED tokens stored inside. Users can also earn POWA by performing positive actions on the platform such as buying or listing in the Marketplace. SmartNFT VIMs at S-tier and higher with Treasures will generate additional POWA tokens.
POWA’s core focuses are utility and DeFi governance. Users can utilize POWA across the VIMworld platform to purchase Incubators, unlock additional uses and boosters for Incubators, buy special items within VIMworld, and gain power-ups to boost VIM stats.
The supply of POWA does not have a defined cap, but there will be numerous ways for POWA tokens to be used, locked and burned. Since generation rates are variable, the VIMworld team actively monitors the supply to balance inflation and deflation.
VIMworld’s POWA product team is charged with maximizing the token’s impact in the coming months, so additional opportunities will be released to earn POWA. With more POWA utilities also planned, and an increasing role in the governance of the platform’s suite of DeFi products, both the demand for POWA tokens and the amount burned will only rise.
To get started, users can purchase a new SmartNFT in the Arcade or a pre-owned one from the Marketplace, with a variety of tiers and treasures. With a VIM in hand, users can expand their opportunities to play and earn further by purchasing Boxes in the Store, which contain unique and rare EGGs. Purchase an Incubator and a C-tier or higher VIM to match to start the hatching process which is now available for all users to enjoy.
VIMworld’s new upgrades add more ways to have fun and earn rewards, making it one of the most exciting platforms out there! Interested users can visit VIMworld, join the Discord or check out the Vision Video to learn more. VIMworld’s upcoming releases, which include games, decentralized finance (DeFi) features and greater multi-chain compatibility are just around the corner.
Access VIMworld now
VIMworld is a revolutionary non-fungible token (NFT) ecosystem that creates a space where entrepreneurship and play combine and thrive. At the heart of VIMworld are the VIMs, distinct and unchangeable digital assets that provide an unalterable system of verification. VIMs can incubate Companions from EGGS, which allow users to win instant jackpots, add unique abilities and stack gaming boosts, making VIMworld the ultimate NFT play-to-win-and-earn platform.
To connect to VIMworld and explore all features, download our purpose built crypto and NFT wallet, Nufinetes compatible with Apple and Android devices or desktop of choice. This comprehensive multi-chain wallet can be used across multiple popular blockchains, allowing users to interact with dApps, view NFT collections and store tokens in a secure, slick environment.