Hey guys
For burning tokens there exists 000 address for bsc . How about cardano native tokens? How can i burn them
There is no burning fuction on Cardano.
However you can send your NFT/unwanted tokens to a CEX and they will credit your the minutxo ADA and then they have to deal with the NFT/unwanted token.
There also is a “zero address” on Cardano: https://adastat.net/addresses/addr1vyqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqkdl5mw
That’s an address where the public key hash is all zeroes. It is virtually impossible that anybody finds a key pair for that and will then be able to spend what is in there. So, it’s the same “locked forever” functionality as on BSC, Ethereum, ….
(There would actually be a few more of those for the different address types – public key, script, with and without stake part.)
It is just not as popular to use it for “burning” as it is on EVM-based chains.
And you have to send the minimal accompanying ADA with the token. So, you’ll “lose” 1.x ADA in the process (but you probably also got them together with the token).
Moreover, the policy of the token could allow really burning them. Depends on the rules of the policy. If it is locked, no burning is possible anymore. Most often it requires the signature of the issuer of the token. But it could also allow burning to all holders. Haven’t seen that in the wild for a popular token, but it is totally possible.
If you just want to get rid of it and ideally keep as much of its accompanying ADA as possible, the “let the CEXes deal with it” approach described by @Zyroxa is the best bet up to now.
Caveats: Some CEXes have been reported to not process deposits with unknown tokens at all, but most seem to just credit the ADA and accumulate the tokens in their huge wallets. And they might get annoyed and do something about it at some point.
If you don’t care about the 1.x ADA that have to travel with the token, you can also donate them to an address like $burnit https://pool.pm/$burnit. That’s a large wallet with tokens users wanted to get rid of which is used by Eternl to test operation of the wallet app with huge wallets.
Lastly, you can create an extra wallet/account to send tokens you don’t want anymore there to have them out of sight, but be able to access them again later just in case. If you want to get really fancy, you can use a “Franken address” for that dump account, so that all ADA in there are staked with your main account (and contribute to its voting power in Catalyst et al.).
Thanks guys
Do you know which CEXs are more possible to credit tokens? And how can i find their wallet address
For that to work, you have to have an account with them. They will not send ADA back to your wallet, but credit ADA to your account in their system (that you can then withdraw again). Only makes sense if you want to do something on the exchange anyway or if you have so many tokens that you still have a profit after the exchange’s deposit and withdrawal fees.
I have heard that Binance and Coinbase work up to now.