Notting Hill Cryptos
I tried to burn the FTX token and this is what happened! 😳
Hi crypto lovers, in this video I try a little experiment in which I attempt to burn the FTX token using the token official smart contract interface. Most major tokens out there do not allow any random Joe to go and burn their tokens and will usually restrict that sensitive operation to (usually) the token issuer. The FTX token appears to be built like this too. Firstly, only the FTX Exchange has ever called the burn operation in the three years of the token existence, having done so about 150 times as of July 2022. Secondly, if it was possible for anyone to burn the token surely someone would have tried it by now? Even just a small amount for fun? 🤷♂️ In this video I go ahead and try to find out the answer the only way I know: by attempting to burn the FTX token myself! Will my transaction execute? Will my wallet address show up as the first unauthorised burn in the history of the FTX Token? Will my irresponsible actions force FTX to reduce the size of their next burn??? 😜 Watch to find out! Here’s some links we explore in this video: FTX token smart contract on etherscan: 9 All the FTT burn operations ever executed: /> And last but not the least, and unusual burn operation here 😉 b