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Token Burn

    A token burn is a process used to destroy tokens to reduce the total supply. The purpose of a token burn may be to create artificial scarcity or to remove unsold tokens following an initial coin offering (ICO). A token burn will decrease the total available supply and can increase the value of the remaining tokens because there are now fewer (scarcity). Burning tokens usually involves either sending them to a wallet with no access, ensuring the tokens are forever inaccessible, or to a smart contract address where the smart contract will delete the tokens.