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OVR has determined to improve its token economics to make its personal tokens extra uncommon and invaluable.
Final Could, the OVR group burned about 1 million OVR tokens to have fun the primary six months of the undertaking. Now it’s saying an thrilling determination to make token burn an integral a part of its token economics.
OVR’s token economics plan
On November 1, a full-fledged token burn program was formally kicked off.
The undertaking group has determined to take 50% of the income generated from the continued sale of OVRLand on a month-to-month foundation and handle it within the following means:
40% is instantly used to burn tokens
the remaining 10% is used to incentivize the sale of OVRLand.
A type of “lottery” takes place during which one of many OVRLand patrons is drawn every month, with using Chainlink VRF, to win the remaining 10% of the revenues.
It goes with out saying that the extra OVRLands tokens an investor has, the higher his probabilities of profitable 10% of the revenues.
Potential points
The burning program appears to be an excellent technique to speed up the token economics of the undertaking.
Nevertheless, one may marvel how sustainable this periodic burning could be and, as a direct consequence, what number of OVRLands could be bought.
The reply to this reliable doubt could be very reassuring.
Information tells us that there are greater than 1.6 trillion OVRLands protecting the floor of the planet however not all of them could be bought, similar to these protecting oceans, deserts, rainforests and many others.
Nonetheless, by deliberately making a low estimate and contemplating solely the OVRLands factors of curiosity recorded by Open Avenue Map, we nonetheless arrive at round 100 million.
If we have been to be much more cautious in making assumptions, we would think about that none of those are bigger than one OVRLand.
Strengths
Ranging from this determine and contemplating 10 OVRs with a worth of $1 every, we’d arrive at 1 billion in gross sales, leading to 400 million OVRs to be doubtlessly burned in opposition to the 100 million of the present complete provide.
OVR’s new token economics are already making present and future traders dream.
For the extra sceptical, right here is the hyperlink to the good contract that does the burning:
https://etherscan.io/token/0x21bfbda47a0b4b5b1248c767ee49f7caa9b23697?a=0xd56e993edbe4a23fb527b8ad92a9157a0a6e350d
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