CIP: burn address #301
Description
When discussing burns in the context of the Cosmos SDK, there are two ways burning can happen.
- calling the burn function in the bank module. This can only be done from modules. The burn function lowers the total supply and removes the tokens from circulation.
- Create a canonical burn address that tokens can be sent to. This acts as the 0x00
To avoid modifying the Cosmos SDK fork for Celestia further I would propose we create a canonical burn address as a CIP in order for all users to understand which address is the correct burn address.