Whitepaper The token
The burn
How $GLITCH leaves the supply for good, how to verify it, and what burns do not do.
$GLITCH has a fixed supply and no mint authority. Supply can go down and never up. What takes it down is the Glitch Card.
Glitch Card activations burn $GLITCH #
Activating a Glitch Card burns the amount of $GLITCH set for the chosen tier from the holder's wallet as part of the mint transaction. Those tokens are destroyed, not transferred. The team receives nothing from an activation, and the amount burned is visible on the card's mint transaction.
Higher tiers burn more. The amount for each tier is fixed a few days after launch and published before activation opens.
What a burn is #
A burn calls the token program's burn instruction. The tokens cease to exist and the supply field on the mint account decreases. Explorers, Jupiter and most wallets read that field, so the reduced supply shows up everywhere that reads the chain.
A burn is not sending tokens to a "dead" wallet. Tokens parked in an address nobody controls still count toward supply. We do not do that.
What burns do not do #
Burns are not price support, and we will never describe them that way. The record is clear: BONK's largest burns were followed by flat or lower prices, and no memecoin burn in the data we reviewed moved its coin's price. A burn is what a card costs, nothing more.
Burn totals are a fact about supply, nothing more. Please do not buy $GLITCH because of them.
Verifying #
- Every activation's burn is in that card's mint transaction on Solscan.
- The mint's current supply is on Solscan. Compare it with 1,000,000,000.
- glitchonsol.com/buy shows the supply at launch, the supply now and the difference, read from the chain.
Honest limits #
- How much is burned depends entirely on how many cards people activate. There is no schedule and no target.
- The chain enforces how many cards of each tier can exist. The burn amount for each tier is checked by the card's co-signing service, whose code and settings are published. See The Glitch Card.