Those familiar with cryptocurrency subreddits have likely heard the name Bomb Token floating around this week. The startup, which got its legs via this Reddit post, has set out on an interesting experiment; evaluate the outcome of a truly deflationary, self-destructing cryptocurrency.

According to the company’s website:

BOMB is a social experiment and financial case study to measure the feasibility of a deflationary currency. The rules are simple. There were originally 1,000,000 Bomb in existence.

Each time a Bomb is transferred, 1% of the transaction is destroyed.

There will never be newly minted Bomb

Since the public announcement, the Bomb Token has seen a massive influx of attention, quickly attracting over a thousand members to their telegram channel in just a few days.

Additionally, YouTuber Crypto Zombie picked up the story from Reddit, adding his thoughts:

The team claims the token is not intended to be used as a transactional currency, but rather a decentralized store of value.

The tokens are being distributed via an airdrop that will end on February 1st. Any tokens remaining unclaimed past this date will be burned or redistributed to the community.

Whether or not you see value in what is being called the first self-destructing cryptocurrency, it truly is an interesting social experiment.