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GoodFire (GF) is an extreme deflationary burning experiment in cryptocurrency. Inspired by Ray Bradbury’s famous quote, “It was a pleasure to burn,” from Fahrenheit 451, GoodFire aims to burn its tokens and the Good Bridging Token. With a total supply of 1,000,000,000 (1B) tokens, 900,000,000 (900M) have already been burned at the mint, leaving a circulating supply of 100,000,000 (100M) tokens.
GoodFire implements a 13% tax on every transaction. Of this, 3% is redistributed to all holders in $GB, 9% is dynamically used for the GM, GB, and GF burn, and 1% is added to the liquidity pool. The dynamic burn mechanism involves daily buybacks and burns of tokens from various Avalanche projects and GoodBridging tokens. Holders of GoodFire have the power to vote on which projects to burn using the 9% tax.
To buy GoodFire, users can follow a simple process. First, they must download and set up MetaMask, a crypto wallet extension, and add the Avalanche C-Chain to their network list. Next, they can buy AVAX from an exchange and transfer it to their MetaMask wallet. Then, they can visit TraderJoeXYZ and swap AVAX for GF tokens using the contract address 0x09ad4a1746ab9ecc96bb67d919de3c6b54cc879f. After the swap, users must add the GF contract address to their MetaMask to view their GF tokens. It is important to note that GF has a 13% tax on every transaction, so users need to be cautious to avoid getting burned.
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