# Token Burning

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Token burning is the process by which a crypto coin project burns a certain amount of its crypto coin digital assets. The process involves transferring some amount of Cryptocurrency (specifically Token Coins) into a burn wallet address (also known as burner wallet) with no private key.
{% endhint %}

* [x] LendFi burn rate is 0.62 LXT per mile.
* [x] *A percentage of the* LendFi *tokens used for payment of fees on the platform will be burned, reducing the total supply of* LendFi *in circulation.*<br>
* [x] *Tokens reserved for the founding team and early investors will be locked up for a certain period of time and gradually released over time to prevent dumping and maintain the token's value.*


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