Token Burn
Last updated
Last updated
Within Snake Tokenomics, there are four specific Burn mechanisms, and they all involve OURO. These mechanisms are directly tied to the IGNIS.Protocol™, as burned OURO is the source of IGNIS generation.
They were described as Primary, Secondary, Tertiary, and Quaternary OUROBOROS Burn sources for the IGNIS.Protocol™ .
Primary Source: One-third of the allocation set aside for Raffles, equivalent to 1% of the daily emission, is burned directly as part of the IGNIS.Protocol™.
Secondary Source: Represents OURO purchased from the OURO-USDC Liquidity Pool with 2% of the vEGLD accumulated each cycle by the IGNIS.Protocol™.
Tertiary Source: Represents the OURO accumulated by creating IGNIS.Batches™ in the IGNIS.Protocol, which are created by deliberately burning OURO.
Quaternary Source: Represents the OURO burned as part of Snake Tokenomics, which consists of two parts:
OURO burned as part of AURYN Uncoil Fees
OURO burned when making DOVA.
OUROBOROS burned as part of AURYN Uncoil Fees has been detailed here.
OUROBOROS burned when creating YIN/YANG-DOVA was detailed as the Injection Component.