🔥Burn

The Token Burn is implemented via an infinitely time-locked contract, meaning that once SWZ tokens are sent to the contract, they become unretrievable.

Since the SWZ token has no keys, it is impossible to burn it "natively". Instead, the SWZ allocated for burning is sent to the burn contract, where it is taken out of circulation and permanently removed from circulation. This achieves the same result as a burn without requiring keys. Moreover, everyone can burn their tokens by simply sending them to the contract. But, beware - this is a one-way trip, so make sure you have a good reason before doing that!

Additional information: It is not possible to change the fee percentage or treasury account since the token is immutable. After the Hotfix for HTS Smart contract vulnerability with Hedera Precompiles, the possibility of creating a token with both the treasury and burn contract as a native fee recipient was temporarily removed (as of April 2nd, 2023). Hence, the current implementation was the only way to implement our idea. However, if the token matures and receives support to include both an external treasury and a smart contract as a recipient, we may consider reminting the token if the community agrees