Rune burn proposal - 5% of fees!

Hello!

Thorchain is now voting to make the protocol deflationary. It already is deflationary by a very small amount. I'm not sure how much but I think 0,01% of the fees are actually being burned. Now there is a Node voting that will set the burn rate at 5% of the protocol fees getting burned. This is Huge for the protocol.

Why? Because in a bull market deflationary protocols are memeable to infinity, the crowd loves the burn mechanics. The best part of that is that during the bull market as the volume of the protocol and its fees increases, it will be burning a lot of Rune.

The protocol is currently making $200m/year in fees, 5% of that will be burned if the proposal gets voted. I think it will get voted in the coming days. There are only 9 more votes needed. You can check how the vote is doing in this website: https://rune.tools/voting?key=SYSTEMINCOMEBURNRATEBPS

Rune.tools is a very cool website made by a Thorchad OG. In this website you can also track the burned Rune and the Total supply, the bonded supply, the pooled rune, the reserved rune, etc. It's worth to take a look if you are a Rune investor.

Here the details:

We just have burned 245 Rune, it would have been 5 times this quantity if the vote was applied since the introduction of the burn mechanics (not so long ago). So, in fact the quantity of Rune burned would have been 1225 Rune. Not a lot of Rune, but it's honest work!

Have a great day!

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