GangstaVerse
  • Welcome to GangstaVerse
  • Inside GangstaVerse
    • Our Tokens
      • GBET Token
        • Initial Distribution
        • Daily Distribution
        • Burning Mechanism
          • Name Change
          • Upgrading Skills
          • Creating stories
      • CROWN Token
        • Supply & Distribution
        • Earning $CROWN
          • Voting GangstaBet Prep
          • Adding Liquidity Supply
        • Power of $CROWN
    • GangstaBet NFTs
    • The Emerald City
      • Land Certificate
      • Lands
    • GangWars in GangstaVerse
    • GangWars in Base
    • Civilians (coming soon)
  • GangWars
    • Intro
    • GangstaBets in GangWars
      • Primary Stats
      • Secondary Stats
    • Game Units
    • Events
    • Sneak Moves
    • Equipment (Weapons)
      • Primary Equipments
      • Default Equipments
    • Items
    • LootCrates
      • Current LootCrates DropRates
      • Awards/Auction Droprates
      • Archived Droprates
    • Gameplay
      • Individual Awards
    • GangWars in Base
      • Character Generation
      • Lootcrates
    • Hospitalization State
    • Glossary
  • Mini Games
    • Rock, Paper, Scissors (RPS)
    • RPS Gameplay
    • RPS Features
    • RPS Tokenomics
  • Tutorials
    • Setting up your wallet
    • Buy your first NFT
    • Creating stories
    • Upgrade NFTs
    • Selling NFTs
    • Setting up your MetaMask Wallet
    • Claiming Characters on BASE
    • Hospitalization State
  • LEARN
    • GangstaBet's Profile
    • Marketplace
  • Extras
    • Join our Community
    • Partnerships
    • Roadmap
    • Tools developed by community
  • Important
    • Support
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  1. Inside GangstaVerse
  2. Our Tokens
  3. GBET Token

Burning Mechanism

PreviousDaily DistributionNextName Change

Last updated 1 year ago

GBET Tokens provide utility to the GangstaBets by a unique burning mechanism. Burning refers to the process of destroying the GBET Tokens. The $GBETs can be burned to get the following utility:

By Feb 2022, 22.2 million $GBET had been minted and 14.5 million $GBET had been burnt creating a net $GBET supply of 7.7 million. Almost 65% of the $GBET Token has been burnt in activities like upgrading skills & changing names with 13.7 million $GBET burnt in skill upgrades and 808K $GBET burnt in name changes.

Changing the name of owned GangstaBets
Upgrading skills
Creating stories for your GangstaBet NFTs