Burn mechanism (Spending)

The SOTO Token burning mechanism is an essential aspect of the Metafluence platform, helping to maintain the value and stability of the in-app currency. By implementing token burning, the platform can reduce the overall supply of SOTO tokens, thus increasing their scarcity and potentially their value. Here are some key activities within Metafluence that trigger the SOTO Token burning mechanism:

1. Ranking Up: When users rank up on the platform, a portion of their SOTO is burned.

2. Unlocking Badges: Users burn SOTO when unlocking badges that represent their achievements and status.

3. Opening Mystery Boxes: SOTO is burned when users open mystery boxes containing various virtual items and rewards.

4. Metahut Enhancement: Upgrading or enhancing Metahuts requires burning a certain number of SOTO Tokens.

5. Entering Metahuts: Users may need to burn SOTO to access specific Metahuts within the platform.

6. Joining Events: Participating in events and activities may involve burning SOTO as an entry fee or contribution.

7. Playing Mini-Games: Accessing and playing mini-games may require users to burn SOTO.

8. NFT Minting: NFT mint process will require SOTO within the platform.

9. Repairing / Restoring HP: Repair or restore the avatar's health points (HP) SOTO will be required.

10. Voting at Events: Users can burn SOTO to vote at events or for decision-making processes within the platform.

11. Changing Username: Changing a user's display name on the platform requires burning a specified number of SOTO.

12. Changing Referral Code: If users wish to change their referral code, they may need to burn SOTO.

The SOTO Token burning mechanism helps create a balanced token economy within Metafluence, ensuring that the platform remains engaging and rewarding for its users while maintaining its value.