Taroverse Burns TARO and TGOLD Tokens

Nearly $100,000 worth of $TARO and $TGOLD were burned by the blockchain game in two days.

By
Web3Wire
on
August 2, 2022
Category:
Metaverse

Burn, Baby, Burn

Taroverse, a BNB Chain PlaytoEarn project, burned millions of their two native tokens at the end of July

The team burned 5.38M TARO tokens on July 27 (valued at about $34,000), while 11.89M TGOLD tokens were burned a day after (valued at about $60,000).

According to Taroverse CEO Siddhant Srivastava, the $TARO burn was a result of giving the community an option to convert their $TARO tokens to $TGOLD.

“We gave the community an option to convert some of their $TARO tokens to $TGOLD tokens in a 1:2 ratio,” Srivastava told BSCNews. “The community deposited 5,380,000 $TARO tokens to convert, which we opted to burn. We also minted 25M $TGOLD tokens to distribute to the community and add liquidity. Out of the 25M $TGOLD tokens, we used 13,103,200. The remaining tokens were burned so the team does not own any $TGOLD tokens now except for the ones we added to the liquidity.”
Source

$TGOLD will be used as in-game currency for Monster Bash, an upcoming game within the Taroverse metaverse. Players will be using $TGOLD to mint and upgrade their NFTs. Taroverse also added a $TGOLD-BNB staking pool on their platform, which already had two $TARO staking options initially. As of writing, the new staking pool has an APR of 190.64%.

What Is Taroverse:

Taroverse is a PlayAndEarn metaverse that is cross-chain and cross-platform. It has multiple games built on it that users can access through an open-world island. The goal of the Taroverse team is to bring high-quality gaming and social experiences through fun and interactive mediums while making some passive income. Tarogotchi, Taro Gem Quest, Monster Bash, and Tactics Royale are the current game modes planned to be built on its open-world metaverse.

Where to find Taroverse:

Website | Instagram | Twitter | Telegram | Discord |

 

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