Introduction

Hello, dear friends. It's a great pleasure to be sharing yet another piece with you again for the day and I hope you have enjoyed the weekend so far. The new week is beginning in a bit and I wish you the energy to come out strong at the end of the week. It's contest time, let's do one together and I am your host this time. Enjoy the ride with me!

![png_20220821_183552_0000.png](https://cdn.steemitimages.com/DQmQi4mtNNUzGGaKN8W1RGwrsBfy9BdhbxhzfaJS7Th1rLz/png_20220821_183552_0000.png) _{Designed with Canva}

Burnsteem25 Contest

The concept of burning tokens in the crypto ecosystem is not new and most old/new projects have made a plan for burning assets in the quest to help the economy of these assets. The event can be on special days that have been set aside by the team which could be weekly/monthly/yearly. A few projects employ the method of buyback with their revenues and burn the assets. The BNB quarterly burn utilizes a certain percentage of the exchange's profits to buy back the asset and burn them (destruction of assets), you know what this means, reduced supply and enhanced value. Burning has continuously been part of the Steem ecosystem as anyone can easily destroy a certain amount of their assets in the quest to contribute to Steem's economy by sending to @null. We continuously generate more STEEM through our writing activities as such authors can easily set beneficiary to the @null account to burn a certain percentage of their rewards. In this way, you have contributed your quota to the economy of STEEM. The question now is how much have you been doing your part?

Contest Expectation

- What do you understand by burning in the Crypto Ecosystem? - Explain your understanding of an eater address in the Crypto Ecosystem and add at least two examples (and the project they are peculiar to). - Are you aware of the #burnsteem25 initiative on Steemit? Have you been participating in the initiative? - Consider your 10 expired articles and 5 active articles. How many have you been utilized to support #burnsteem25? (Screenshots required).

Contest Rewards

- A total of 12 SP is available in this contest. - The top 4 winners receive 3 SP each. - Outstanding content stand the chance of getting support through booming throughout the contest window (not part of the rewards and it's not guaranteed).

Contest Guidelines

Write an article on the subject with at least 300 words and post it in this community.

Let your title be #Burnsteem25 Contest- The Evaluation of my Support by @username.

Participation in this contest is open to everyone (of all nationalities).

Endeavor to subscribe to the community and follow our official account @steem4nigeria.

Leave reasonable comments on other entries from other participants.

Use the tag #burnsteem-contest1, #steemexclusive, #burnsteem25, and #contest in the first tags. Do not forget to add your club. Invite your friends (at least 3) by mentioning them in your comment on this post and at the bottom of your entry. Ensure to set 25% beneficiary to @null.

Write quality content to stand out and also to be suitable for support. The contest entry starts from now and ends on the 27th of August 2022.

How to Check Beneficiaries on Expired Articles

- Visit https://steemworld.org/@yourusername (your username). Scroll down to posts, select finished, and chose last 10. ![iMarkup_20220821_164447.jpg](https://cdn.steemitimages.com/DQmcF5vf1PftY58MXyd5hgTt9v5qmU83MSEvCeRjAJnA4ya/iMarkup_20220821_164447.jpg) _Finished ![iMarkup_20220821_164417.jpg](https://cdn.steemitimages.com/DQmQZxHbBE6i2LtzGPpGZ264UkdeafpG1BQr9cUSD9YPMJp/iMarkup_20220821_164417.jpg) _{Last 10 Articles} - Select any of the articles, scroll down, and show the beneficiaries on them (including the links). ![iMarkup_20220821_164515.jpg](https://cdn.steemitimages.com/DQmXnRUYBecM32XVqeYhPn1mNF9MyjcskjwQo63mXMwJih3/iMarkup_20220821_164515.jpg) _{Beneficiaries} Get the details for your 5 active articles as well using the same method. You can pull your images left and right to manage space if you wish to. During the selection of top winners at the end of this contest, the claims will be verified on Steemworld.

Conclusion

In conclusion, we want to see if you have been in support of the #burnsteem25 initiative and measure your support so far. Making changes begins with me and you, it matters how you have been committed to making that change. Burning steem is one of those ways to help the economy of Steem as the asset tends toward scarcity to benefit all in the long run. I look forward to your participation in this.

*Sponsored by:-* @fredquantum