What Is the Difference between a Token Burn and a Token Lock-Up?

A token burn is the permanent removal of tokens from the circulating supply by sending them to an unretrievable address (a "burn address"), reducing the total supply forever. A token lock-up is a temporary restriction that prevents tokens from being traded for a specified period, but the tokens still exist and will eventually re-enter the circulating supply.

Burn is permanent scarcity; lock-up is temporary supply control.