Fan Token Burns Occurred

Adana Demirspor, Antalyaspor, Balıkesirspor, Çaykur Rizespor, Diyarbekirspor, Erzurumspor, Giresunspor, Hatayspor, Kayserispor, Sakaryaspor, Sivasspor, Şanlıurfaspor, Tuzlaspor, Vanspor and Yeni Malatyaspor, listed on Bitexen, the Digital Asset Trading Platform with the largest product range in Turkey, were burned by EXENPAY, the new generation digital wallet in Turkey. The number of burned tokens depending on the number of goals scored is explained as follows:

65,000 DEMIR tokens belonging to Adana Demirspor were burned.
7,770 AKREP tokens belonging to Antalyaspor were burned.
6,000 BLKS tokens belonging to Balıkesirspor were burned.
2,650 RIZE tokens belonging to Çaykur Rizespor were burned.
25,452 DIYAR tokens belonging to Diyarbekirspor were burned.
35,000 ERZ tokens belonging to Erzurumspor were burned.
3,080 GRS tokens belonging to Giresunspor were burned.
620 HATAY tokens belonging to Hatayspor were burned.
64,600 KYSR tokens belonging to Kayserispor were burned.
90,882 SKRY tokens belonging to Sakaryaspor were burned.
7,540 SIV tokens belonging to Sivasspor were burned.
1,890 URFA tokens belonging to Şanlıurfaspor were burned.
210 TUZLA tokens belonging to Tuzlaspor were burned.
2,600 VAN tokens belonging to Vanspor were burned.
1,760 YMS tokens belonging to Yeni Malatyaspor were burned.

What is burning?
Cryptocurrency burning is a common process in the cryptocurrency ecosystem. It is done to permanently remove a certain amount of cryptocurrencies from circulation and reduce the overall supply in circulation. This process takes a deflationary approach by reducing the number of tokens in circulation. As the number of tokens in circulation decreases, the current value of tokens is theoretically expected to increase in the long run.

How do fan token burnings take place?
Fan token burnings occur depending on the number of goals scored by the clubs in the respective league. The per-goal token amount specified in the prospectus is purchased in Turkish Lira on the market and burned.

What is the market value of Fan Tokens listed on Bitexen?
A fan token's market value is determined by multiplying its price by the number of tokens in circulation. The current total market value of fan tokens is about TL 1.2 billion. The total value of burned tokens is about 500 thousand Turkish Lira.