INK Network News: How Does Burnchase Burn INK Tokens in the cPen App?
Nearly 500,000 INK tokens were burned daily in recent updates, raising questions about how much supply the mechanism could remove over time. Burnchase combines token burning with Dan credits, referral rewards, and a prize pool. This INK Network News report explains how to burn INK tokens using the cPen mobile app, verify transactions on BscScan, and track the latest burn figures. But can continued burns actually affect INK's price, or will demand remain the deciding factor?
What Is Burnchase and How Does It Work in INK Network?
Burnchase lets users destroy tokens on purpose and earn Dan credits in return. Dan is the platform’s own currency and has no cash value.
Source: Official Cpen Website
How Burnchase works is easy to picture. Each burn is split three ways:
80% is destroyed for good
20% goes to the verified referrer
10% goes to the Chasepot prize pool
How to Burn INK Tokens Using the cPen Mobile App
The cPen Network app is where Burnchase lives. Based on the whitepaper, the flow looks like this:
Pick a supported token, CPEN or INK.
Choose how much Dan you want to earn.
The app works out how many tokens it needs at today’s price.
Confirm inside the quote window. The site mentions 5-minute price locks.
The site shows no app screens, so button names may differ. Only KYC-verified ambassadors collect the 20% share.
What Happens to Your INK Tokens After a Burnchase Transaction?
They move to the destroy address, 0x000...dEaD. Nobody holds a key to it, so those tokens can never be sold, staked or moved again.
The referrer’s 20% arrives as tokens, not Dan. The 10% feeds Chasepot, a free weekly 6/45 draw. It uses Chainlink VRF on Arbitrum and is not open to US residents.
Burnchase is not the only destroy. Ad revenue buys CPEN and INK on the open market at random times each day. The buyback crypto wallet then sweeps them to the burn address from 02:00 UTC.
How Many INK Tokens Can You Burn and What Do You Get?
No minimum or maximum is published on the site or in the whitepaper. You pick the Dan amount, and the app sets the token count.
The burner keeps 100% of the Dan earned, says the whitepaper. Dan can be spent on platform features, such as Wall posts, and has no cash value.
Recent INK burns sit near 500,000 each: 499,991.74 on October 10, 499,389.50 on October 9 and 492,771.99 on October 8.
How to Check INK Token Burns on BscScan
The site says its totals come straight from the chain. Open cpen.io, scroll to destroy History and click Verify on BscScan under INK burned.
That page lists every transfer sent to the destroy address. Any View tx link opens one single destroy with its amount and date.
Match the INK smart contract, 0xCe22...2F4c on BNB Chain, with the one on the official site. A quick test: on October 8, the site showed 13,670,837 INK burned. The two burns since then add up to 999,381.24 INK, which fits today’s total.
Can Burnchase Help Reduce INK Supply and Affect Its Price?
It can cut supply. Price is different, because it depends on demand, and nobody can promise that. The whitepaper lists price support as a benefit. That is a goal, not a guarantee.
Other numbers weigh the other way. About 18% of supply (Team 10%, Ecosystem 8%) is locked in Pinklock, with 2% unlocked at launch and 2% every 30 days. Community INK is minted only when it is sent out.
The official pool is INK/WBNB at 1%. On the cPen roadmap, Phase I, app and community building, is still marked as current. Phase III covers social features and mainnet, and the open mainnet launch is postponed.
So burns are real, but the larger plan is early. Since the INK Network Launch, the burn counter is the clearest number to track.
INK Network News will stay tied to the daily burn total on cpen.io. Watch that number, the next unlock date, and any exchange name from the official X account.
Disclaimer: This article is for information only. It is not financial or investment advice. Crypto is volatile, and you can lose money. A burn does not promise a higher price. Please do your own research.
