burn

The burn method is a crucial function in the context of StableCoin Contracts, allowing the destruction of a certain amount of tokens from circulation. This operation is essential for managing the token supply and can be used for various purposes such as reducing inflation, rewarding holders, or fulfilling specific contract protocols.

Method Signature

async burn(amount: string, signer: any): Promise<string>

Parameters

• amount: string: The amount of tokens to be burned, represented as a string.
• signer: any: An object representing the signer of the transaction, which is typically provided by a wallet interface like MetaMask or ethers.js.

Function Logic

1. Get Contract Instance: A contract instance is obtained using the signer. This instance is necessary to perform operations on the blockchain.
2. Burn Transaction: The burn method is invoked on the contract instance with the specified amount.
3. Return Result: The function returns the result of the burn transaction, usually a transaction hash, in a string format.

Example Usage

const amount = "500";
const signer = ethersProvider.getSigner();

stableCoinContract.burn(amount, signer)
    .then(result => 
        // add your logic here 
    )
    .catch(error => 
        // add your logic here
    );

Notes

• The burn method is a sensitive operation and should be used with caution, as it permanently removes tokens from circulation.
• It's important to ensure that the amount parameter is properly formatted to prevent transaction failures or unintended consequences.