We are a team of crypto investors and poker players who have decided to join forces and finally offer a multiplayer poker platform on the binance smartchain. But not just a poker platform where you can play with crypto, Smartchain Poker will release its own super limited/deflectionary token called $SCP.

$SCP will start with a max supply of 5 million tokens, the circulation supply will continue to decrease because part of the token tax and poker fee gets burned.

Deflationary Token:

Some of you may confuse the concept of deflation in traditional finance with the concept of deflation in cryptocurrency. While deflation is a negative term in traditional finance, it is a plus in cryptocurrency. Deflation is a term used in crypto finance to describe a drop in the value of an asset due to factors such as over-minting.

The market supply of a deflationary cryptocurrency reduces with time. This means that users or the project’s team will engage in activities that reduce the coin’s quantity on the blockchain. Burning tokens is a typical approach to attaining this goal.

It’s worth remembering that cryptocurrencies with a finite supply are by definition deflationary. They reach this status because the supply of the currency decreases as long as investors buy and retain it. Many crypto enthusiasts believe that deflationary tokens will outsmart DeFi.

Buyback & Burn Mechanism

The burning mechanisms used by $SCP include buyback and burn from token taxes and Pokerfee/Rake burning. The buyback mechanism is self-explanatory since it entails the platform purchasing tokens from holders and storing them in an inaccessible address;
When it comes to transaction fees, the SCP platform uses a smart contract that burns a portion of the fees automatically. The quantity of transactions on a platform strongly influences this mechanism; the more transactions, the more tokens the platform burns, and vice versa.

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