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That said, some projects are still holding on, trying to prove that Telegram mining apps can work. Take Memhash, for example—they’re pushing forward and keeping users engaged. As they gear up for their TGE, they recently burned 50 million tokens here, and they’re saying this could be an ongoing thing here. That’s definitely a different approach from what we’ve seen with mini-apps in the past.
Could this strategy give them an edge? What do you think?
Burning tokens you said? Nahhh. Nothing new TBH.
The first time I saw the "burning of tokens" feature was on meme coins a few years ago where they are saying that in every transaction made, a portion of the total supply of the token will be burned hence, decreasing supply, and a possible increase in the price, but it didn't happen because there was no demand.
I'm not saying that it will be the same case with Memhash, but if there's no demand on the token, burning of token will be pretty much useless. Yes, supply will go down, but demand is also going down as well hence, price will go down. This feature isn't new at all, but it's the first time that a project under TON added this feature.
Give them an edge? I don't think so, or maybe let's see after 6 months to a year.
