The Art token has been minted on both the Ethereum and Polygon networks.
To achieve this goal, a balancing function has been introduced, which will control the supply of $ART on the market. In practice, this means that when the amount of $ART in circulation exceeds 2.5 billion, some tokens will be burned.
Burning will be carried out by sending tokens to a special address from which they will no longer be recoverable. In this way, the target amount of $ART in circulation will be reduced by half.
The balancing function will work on the principle of a mechanism that will adjust the amount of $ART in circulation depending on the market demand. This will ensure price stability and balance on the market.
The token has been issued on two networks, Polygon and Ethereum, with 2.5 billion on each.
The target liquidity pool will be 2.5 billion $ART.
The burning takes place collectively every 24 hours until the end of the Presale. The $ART balance is checked on both the Polygon and Ethereum networks, and any surplus in either network is burned.
As the contract on the Ethereum network was created much earlier, and due to expensive gas prices, we decided to launch parallel trading on the cheaper Polygon network. This solution does not allow us to burn ART tokens automatically during purchases. (On the Polygon network, we already have this prepared in the contract) This solution will be changed to automatic burning when we fork the contract on the Ethereum network.