For the first time tonight, we will be burning $PSG Fan Tokens during the final of The Trophée des Champions between Paris Saint-Germain and their fierce rivals Marseille.
So what exactly is a ‘burn’ and why are we doing it? Burning is a very common practice in crypto, and is simply a way to reduce the circulating supply of a token, meaning the tokens become more scarce.
10,000 $PSG Fan Tokens will be ‘burned’ for every goal scored by Paris Saint-Germain and a further 20,000 $PSG Fan Tokens if they win. If the game ends in a tie, penalty shoot-out goals won’t count.
This is the first time that Socios.com will be burning Fan Tokens based on team performance. But it won’t be the last.