GoodFire is a cryptocurrency that seeks to burn the GoodBridging Token as well as burn itself. GoodBridging Token (GB) is a decentralized finance (DeFi) token launched on the Avalanche Network.

Token burning refers to the practice of intentionally sending the token to an unusable wallet address for it to be eliminated from circulation. Cryptocurrency developers follow the practice to decrease the supply and inflate prices.

To trade the token, users need to download metamask, which is a crypto wallet, and then they need to add the Avalanche C-Chain to their network list.

A 13% tax is levied on each transaction of the GoodFire token. At the same time, 3% is re-distributed to every holder in terms of GoodBridging Token. While 9% is utilized in burning, 1% is sent to liquidity.

As the token is specifically made for burning, every day 3% of the total trading volume on the platform is used for trading and burning tokens from several Avalanche projects. The process is dynamic in nature, and which projects are to be burned is left up to the community to decide via voting on the official GoodFire pool. Similarly, 3% of the total trading volume on the forum is used for trading and burning GoodBridging tokens daily. In a similar fashion, 3% of the total trading volume is used for trading and burning the GoodFire token itself every day.

Further, the burning ratio of 3:3:3 is a process that is dynamic and susceptible to change, wherein the community can choose to use all 9% tax to burn a particular project.

The token's total supply is 1,000,000,000, out of which 900,000,000 were burned at the time of minting. Further, 69,420,000 tokens were set for presale and 28,580,000 tokens for airdrops.

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