Why Crypto Projects Burn Tokens?

To maintain asset prices, some crypto projects use "coin burn" to manage supply by removing tokens from circulation

In token burn, coins are sent to a burn address, rendering them inaccessible and permanently removing them from circulation

Token burning can be voluntary or implemented through smart contracts or protocols

Reasons for token burning include proof-of-burn for network security, increasing value by reducing supply, and managing price fluctuations

Pros of burning tokens include curbing inflation, maintaining or increasing value, and creating deflationary effects.