# FAQ

### What is a token burn, and what happens to burnt tokens?

The act of burning a token is to permanently remove a given number of tokens from the circulating supply, rendering the burnt tokens completely inaccessible. This happens by transferring tokens to a burn address, i.e. an inaccessible wallet from which they cannot be retrieved. Burning portions of a cryptocurrency will reduce the circulating supply, making the tokens scarcer, and potentially increasing the price. As a result, this can be beneficial for holders.

### What is a Burn Party?

A Burn Party is a collaborative effort to reduce the supply of a token by a token holder's community or project team. Collaborative efforts for burning tokens provide a greater deflationary impact compared to traditional burn mechanisms by bringing holders together to reduce the supply of a token. The EG Burn Party platform gives you an easy way to do this. Additionally, a Burn Party can be used as a means for promotion, exposure, and community building by uniting holders under a common goal.

### How do I create a Burn Party?

For information about creating a Burn Party event, please visit the "[Create a Burn Party](https://wiki.egtoken.io/eg-burn-party/guides/create-a-burn-party)" page.

### What happens if a Burn Party does not reach its target?

If a Burn Party does not reach its target and the expiration time comes, contributors to the Burn Party may visit the dashboard, connect their wallets, and then reclaim their tokens.

### How can I get my project's token verified on EG Burn Party?

If you are responsible for a token or know someone who is, you can visit our [Contact Page](https://elongate.cc/contact-us) and submit a "Request for Verification".

### How can my Burn Party be featured?

If you would like your Burn Party to be featured, you can visit our [Contact Page](https://elongate.cc/contact-us) and submit a "Featured Request" ticket. We have sitewide promotional packages ranging from 1, 3, or 7 days, including the Landing Page.

### Which Wallets are Supported?

Most major wallet applications are supported. You can connect via MetaMask, Binance Chain Wallet, or WalletConnect.

### Can I create multiple Burn Parties for the same token?

Yes, there is no limit on the number of Burn Partys you can create or participate in.

### Once a Burn Party is hosted, can I contribute anytime?

Yes, you can contribute at any time during the period that the Burn Party is live.

### How long can I host a Burn Party?

You can choose anywhere from 1 week to 6 weeks for the length of time of your Burn Party. You can also choose which time to begin your Burn Party.

### Is there a minimum quantity of tokens to start a Burn Party?

At this time there is no minimum quantity of tokens needed to create your own Burn Party.

### Where can I find a copy of the Litepaper?

You can find a copy of the Litepaper by visiting our [Litepaper Page](https://burn.party/litepaper).