Let's talk about "burning" a token. 

Let's think about $SOCIAL burning. Let's say that I decide to burn 10% of my bag of $SOCIAL. Not a huge impact. Let's say that everyone agrees to do that. We will have removed over million tokens from circulation. 

Just a random TX Hash. Notbing to see here. 

0x6e599418cd1a77e9b073a36f6329a88d6a10a941429557b2392836a29eaa93cb

CEO at @phaverapp, the gateway to Web3 social and largest app on Lens Protocol, now also on Farcaster

There is a bit of a reverse game theory problem here 

The people who defect and don’t burn their tokens end up with more (relatively) and at a higher valuation