What is the best way to burn mosaics?

#1

Hello all, for those who have done capital raises using a mosaic token, have you ever encountered the problem of needing to burn unsold tokens? If so, what is the best way to go about doing that?

I have found this address, known as the Namespace Sink:
NAMESP-ACEWH4-MKFMBC-VFERDP-OOP4FK-7MTBXD-PZZA

But that is where fees for namespaces go and the funds are earmarked for future use by the signatories on the wallet.

Are there any proven old-fashioned eater or black hole addresses on NEM? Shouldn’t there be at least one? Or maybe was that not considered a smart thing for a chain with a limited non-inflationary token supply?

Thanks in advance for your help.

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#2

You can send to Nemesis address http://explorer.nemchina.com/#s_account?account=NANEMOABLAGR72AZ2RV3V4ZHDCXW25XQ73O7OBT5
As I understand no one has private key for it right now. @BloodyRookie correct?

#3

Not correct. Private key is known but it is not possible to initiate a transaction from that account.

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#4

Create an address directly without a private key with something pre-defined that makes sense. It should be “impossible” to guess a private key for it, then.
Example:
NBURNBURNBURNBURNBURNBURNBURNBURNBWV4SML for mainnet or
TBURNBURNBURNBURNBURNBURNBURNBURNDH7MAMJ for testnet
(last part is a checksum which needs to be computed)

#5

That’s an interesting solution, @Kamil. Has no one ever done this before and thus created an already extant eater address?

#6

No clue. Feel free to use the one above :slight_smile: