1st ITO of BLV Token – 10% Supply Will Burn on 2 April 2023
Dear users, we are going to announce that on 2nd April 2023, we are going to do the first ITO of the BLV token. In this ITO, we will burn 10% of the total supply. So keep your eyes open and stay active as we are going to announce all important updates on 2nd April.
On this first Initial Token Offering, we are pretty sure that the price of BLV tokens will increase. There is a strong chance that the price will go up. So if you haven’t joined the B Love Network family yet then you can do it before 2 April to get the benefits.
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$6 Million Worth of BLV Tokens will Burn on 2nd April 2023
It is good news for the staking members and miners of BLV tokens that the 10% of B Love token will burn on 2nd April. The worth of burning tokens is 6 million dollars. So this is the first burning of our token and we will keep following this burning next month and every month.
BLC Price Will Go to $0.03 in April 2023
As all of our users know that the current price of the BLV token is $0.02. However, we have a burning mechanism that will burn 10% of the total supply every month. If you are not aware of the term burning in cryptocurrency then it is a process of lowering the total supply of a coin or token.
Here is how it works:
Suppose there is a cryptocurrency token that has a total supply of 100 tokens. Let’s assume that the token name is “Bitcoin”. Now you know there is a token called Bitcoin and it has 100 total coins in supply. So when we need to burn the supply we will send Bitcoin to an address that does not belong to any user and does not even exist.
So what will happen? Suppose we have sent 10 Bitcoins to a useless address, those 10 Bitcoins will be lost and now we will have 90 Bitcoins in supply and available for trading. Think of it like throwing away a dollar bill that’s been ripped or has a big hole in it. You wouldn’t be able to spend it because it’s no longer in good condition. But why do we do it? Well, to increase the price of a coin.
So with this burning mechanism, the price of B Love Network will continue to increase over time.
What is the Total Supply of BLV Tokens?
BLV token is a community token that is built on BFIC Blockchain. The total supply of this token is 20 billion. However, the initial supply is 3 trillion which will continue to burn, and will eventually come down to 20 billion after 16 months.
What do You need to Do?
All you need to do is just use this app, stake your tokens, and wait for 500 days to get 5x rewards. The price will surely appreciate so you need to download the B Love app and keep your eyes on the price.
