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Overview Already decided Upgrade its token economy to make its tokens more rare and valuable.
Last May, the OVR team burned about 1 million OVR tokens to celebrate the first six months of the project.Now it announces an exciting decision Make token burning an indispensable part of its token economy.
OVR’s token economic plan
November 1, full Token destruction procedure The curtain officially kicked off.
The project team decided to extract 50% of the revenue generated by OVRLand’s continuous sales every month, and manage it in the following ways:
- 40% directly used to burn tokens
- The remaining 10% is used to incentivize sales of OVRLand.
Use Chainlink VRF to draw one OVRLand buyer every month to win the remaining 10% of the income. This is a “lottery”.
Needless to say, the more OVRLands tokens an investor has, the better his chance of winning 10% of his income.
potential problems
Burning program seems to be a good way Accelerate the token economy of the project.
However, one might want to know how sustainable this periodic burning is, and as a direct result, how much OVR land Can be sold.
The answer to this reasonable doubt is very gratifying.
The data tells us that there are more than 1.6 trillion OVR land on the earth’s surface, but not all land can be sold, such as oceans, deserts, and tropical rain forests.
Nevertheless, by deliberately underestimating and considering only the OVRLands points of interest recorded by Open Street Map, we still arrive at approximately 100 million.
If we are more cautious in making assumptions, we may think that these assumptions are not greater than an OVRland.
Advantage
Starting from this number, considering 10 OVRs with a price of $1 each, we will reach a sales of 1 billion, resulting in 400 million OVRs that may be burned, while the current total supply is 100 million.
OVR’s new token economics has made current and future investors’ dreams come true.
For the more skeptical, here is the link to execute the burning smart contract:
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