Burnt Token (BURNT)

A description of the BURNT token and its related use cases
The native digital cryptographically-secured utility token of the Burnt Finance platform (BURNT) is a transferable representation of attributed functions specified in the protocol/code of the Burnt Finance platform, and which is designed to be used solely as an interoperable utility token on the platform.
BURNT is a non-refundable functional utility token which will be used as the medium of exchange between participants on the Burnt Finance platform. The goal of introducing BURNT is to provide a convenient and secure mode of payment and settlement between participants who interact within the ecosystem on the Burnt Finance platform, and it is not, and not intended to be, a medium of exchange accepted by the public (or a section of the public) as payment for goods or services or for the discharge of a debt; nor is it designed or intended to be used by any person as payment for any goods or services whatsoever that are not exclusively provided by the issuer.
BURNT does not in any way represent any shareholding, participation, right, title, or interest in the Company, the Distributor, their respective affiliates, or any other company, enterprise or undertaking, nor will BURNT entitle token holders to any promise of fees, dividends, revenue, profits or investment returns, and are not intended to constitute securities in Singapore or any relevant jurisdiction. BURNT may only be utilized on the Burnt Finance platform, and ownership of BURNT carries no rights, express or implied, other than the right to use BURNT as a means to enable usage of and interaction within the Burnt Finance platform.
Use cases for the BURNT token include but are not limited to the following:

Protocol Governance

In order to promote decentralized community governance for the network, BURNT would allow holders to propose and vote on governance proposals to determine features and/or parameters of the Burnt Finance platform (this includes protocol upgrades, profile verification, and synthetic asset creation).
For the avoidance of doubt, the right to vote is restricted solely to voting on features of the Burnt Finance platform and/or changes to the governance process; the right to vote does not entitle BURNT holders to vote on the operation and management of the Company, its affiliates, or their assets, and does not constitute any equity interest in any of these entities.
A more detailed overview of governance can be found in the following section.
Collateral for Synthetic Assets
As the native platform currency, Burnt tokens can be used as collateral for minting synthetic Burnt Assets (bAssets) on the Burnt Finance platform. These secondary synthetic assets would in turn be transferable and tradeable.
Fee Reduction
Users who purchase NFTs on the platform using BURNT are entitled to enjoy reduced transaction fees from (1% to 0.1%). The price will be determined by the AMM pool on Solana.
Participation Incentives
BURNT also functions as the economic incentives which will be distributed to encourage users to contribute and maintain the ecosystem on the Burnt Finance platform, thereby creating a win-win system where every participant is fairly compensated for its efforts. BURNT is an integral and indispensable part of the Burnt Finance platform, because without BURNT, there would be no incentive for users to expend resources to participate in activities or provide services for the benefit of the entire ecosystem on the Burnt Finance platform. Given that additional BURNT will be awarded to a user based only on its actual usage, activity and contribution on the Burnt Finance platform, users of the Burnt Finance platform and/or holders of BURNT which did not actively participate will not receive any BURNT incentives.
In order to promote adoption of the platform, a portion of the token supply within a given epoch will be distributed to early users who engage on the Burnt Finance platform for various activities, such as minting synthetics or NFTs, or buying or selling NFTs.
Proof-of-Stake (PoS) Security
The Burnt Finance platform itself is simply a blockchain protocol which does not own or run any computing resources, so third-party computing resources are required for maintaining protocol security. Providers of these resources would require payment for the consumption of these resources (i.e. "mining" on the Burnt Finance platform) to maintain network integrity, and BURNT will be distributed as the native platform currency to quantify and pay the costs of the consumed resources.
BURNT Token Distribution
BURNT tokens are designed to be utilized, and that is the goal of the BURNT distribution.
In particular, it is highlighted that BURNT: (a) does not have any tangible or physical manifestation, and does not have any intrinsic value (nor does any person make any representation or give any commitment as to its value); (b) is non-refundable and cannot be exchanged for cash (or its equivalent value in any other digital asset) or any payment obligation by the Company, the Distributor or any of their respective affiliates; (c) does not represent or confer on the token holder any right of any form with respect to the Company, the Distributor (or any of their respective affiliates), or its revenues or assets, including without limitation any right to receive future dividends, revenue, shares, ownership right or stake, share or security, any voting, distribution, redemption, liquidation, proprietary (including all forms of intellectual property or licence rights), right to receive accounts, financial statements or other financial data, the right to requisition or participate in shareholder meetings, the right to nominate a director, or other financial or legal rights or equivalent rights, or intellectual property rights or any other form of participation in or relating to the Burnt Finance platform, the Company, the Distributor and/or their service providers; (d) is not intended to represent any rights under a contract for differences or under any other contract the purpose or pretended purpose of which is to secure a profit or avoid a loss; (e) is not intended to be a representation of money (including electronic money), security, commodity, bond, debt instrument, unit in a collective investment scheme or any other kind of financial instrument or investment; (f) is not a loan to the Company, the Distributor or any of their respective affiliates, is not intended to represent a debt owed by the Company, the Distributor or any of their respective affiliates, and there is no expectation of profit; and (g) does not provide the token holder with any ownership or other interest in the Company, the Distributor or any of their respective affiliates.
Notwithstanding the BURNT distribution, users have no economic or legal right over or beneficial interest in the assets of the Company, the Distributor, or any of their affiliates after the token distribution.