$70M Burn Complete: DAO Token Supply Re-Assessment

H. S.
1 min readJun 24, 2021

Burn Proof

https://etherscan.io/tx/0xb7dda3434d390f528f09887e880e7252cab4c6478afa824928f4d0ab8e8dcae5

Every quarter, we analyze internal performance and market dynamics to re-assess token supply. With Q2 coming to an end, we have conducted a burn of 31.2M tokens, valued a $70M.

The burns breakdown as such:

1. Mergers & Acquisitions: 14% to 7%

DAO token offering was prior to the 2021 market surge. Much has changed over the last 6 months, especially crypto company valuations. Our intent remains to utilize a mix of cash and locked tokens to acquire promising companies. Though, for now, supply of locked M&A tokens remains unused. The adjustment reflects our new projections on M&A possibilities.

2. Team: 20% to 18.5%

We have a competitive team structure and involve compensation in multi-year locked tokens. Some team members under delivered, a portion of their tokens have been burned.

3. Advisors: 5% to 3.5%

Similar to team structure, advisors are also compensated with multi-year locked tokens. Some advisors also under delivered, their tokens have been burned.

DAO Token Hyperdrive

Day 1/10

  • Read about Infinity Pad and the $IPAD airdrop, built on our whitelabel Chainmaker Kit
  • Stay tuned for major product release #2 tomorrow

Stay Updated

Twitter: twitter.com/thedaomaker

Telegram: https://t.me/daomaker

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