In the simplest sense, token burns are the deliberate destruction of units of digital currency—erasing them from the ecosystem for good. This action is irreversible and can only be carried out by the project’s team. Tokens are burnt for various reasons, and this article focuses on the reasons behind Education Ecosystem burning its LEDU ERC-20 tokens.
Following a door-opening migration to the Binance smart chain, Education Ecosystem seems to be gathering more traction as it provides its community with a more efficient token with additional benefits. Since these benefits can only be accessed on the Binance Smart Chain Mainnet with LEDU BEP-20 tokens. Education Ecosystem is forgoing its former LEDU ERC-20 tokens on the Ethereum blockchain.
In the heart of this migration are key benefits like the prospect of improved interoperability based on the trending migration of other projects to the Binance Smart Chain; the Binance Proof of Stake (PoS) ledger distribution method which allows for the staking of LEDU BEP-20 tokens; and the best of all, cheaper gas fees.
This token burn serves to encourage more ERC-20 token holders to bridge their tokens to the Binance standard to reap these new benefits. The Education Ecosystem is continuously pursuing efficiency and the burning of its ERC-20 token is simply to keep in line with this vision.
Below is a detailed list of LEDU ERC-20 Ethereum tokens to be burnt by April 1, 2022. Including smart contract addresses:
29,349,469.26 LEDU ERC-20 Tokens to be burnt
(0x5f35eEbB19B5D4f39bF59b98535ec5c5958017DF)
36,987,801.00 LEDU ERC-20 Tokens to be burnt
(0x8Cf7a83f41F545CFa589f6A693cC55BFfD06a789)
36,298,309.43 LEDU ERC-20 Tokens to be burnt
(0xa0EF6f5D5AeA639751f428Cb32d2c5470d350c64)
10,889,492 LEDU ERC-20 Tokens to be burnt
(0x0a798Fad27a035f2231856613f61571DC5A7778E)
10,889,492.8 LEDU ERC-20 Tokens to be burnt
(0xaf022FD2f0e925fAe7dDabC66575419868f4B2ff)
7,259,661.89 LEDU ERC-20 Tokens to be burnt
(0x86Fd69ce315cd8bD58BCf8447167a7F1eB1e147F)
7,259,661.89 LEDU ERC-20 Tokens to be burnt
(0x140A92598115639d28470cE920439320746385F7)
10,889,492.83 LEDU ERC-20 Tokens to be burnt
(0xaf022FD2f0e925fAe7dDabC66575419868f4B2ff)
Source: https://blog.educationecosystem.com/ledu-erc-20-token-burn/
