Volt Inu Community Approves Token Burn and Liquidity Transfer

02/14/2023 14:29 • NFT Newsflash • 159 views

It is reported that the Meme project Volt Inu will destroy 44.85 trillion VOLT tokens from the bridge liquidity according to a proposal passed by the community. These tokens are worth 74.5 million dollars at the end of the proposal. 44.85 trillion VOLT tokens will be destroyed in equal quantities in five days, at 18:00 EST (7:00 GMT) every day. At present, one destruction has been completed. The second proposal approved by Volt Inu DAO is to transfer 25% of Uniswap liquidity to Polygon.

The Meme Project Volt Inu will destroy $74.5 million worth of VOLT tokens within five days

Interpret the above information:

The Volt Inu project has been making significant strides in its efforts to improve its tokenomics and boost the value and credibility of its native cryptocurrency VOLT. Recently, the community passed two key proposals that are likely to have a significant impact on the project’s future prospects.

The first proposal involves the destruction of 44.85 trillion VOLT tokens from the bridge liquidity. This is a substantial move that will reduce the total supply of VOLT tokens and create scarcity, which is important for the token’s value to appreciate. The tokens to be destroyed are valued at $74.5 million, providing a significant boost to the project’s market capitalization.

The token burn will occur in equal quantities of approximately 8.97 trillion VOLT tokens each day for five days, starting at 18:00 EST (7:00 GMT) every day. The first destruction has already been completed, while the remaining four will take place over the coming days.

This move demonstrates the commitment of the Volt Inu community to the long-term success of the project. By reducing the token supply and increasing scarcity, the value of VOLT tokens is likely to appreciate over time, benefiting holders and attracting more investors to the project.

The second proposal approved by the Volt Inu DAO involves the transfer of 25% of Uniswap liquidity to Polygon. This move is aimed at boosting the project’s interoperability and providing greater accessibility to more users. Polygon is an Ethereum-based layer 2 scaling solution that offers faster and cheaper transactions compared to the Ethereum network.

By transferring liquidity to Polygon, Volt Inu aims to provide users with a faster and cheaper trading experience, reducing the impact of high gas fees that can be prohibitive for many traders. This move is also likely to attract more users to the project and increase trading volume, further boosting the value of VOLT tokens.

In summary, the Volt Inu community’s approval of these proposals is a significant step forward for the project. The token burn is likely to create scarcity and boost the value of VOLT tokens, while the liquidity transfer to Polygon will improve accessibility and usability for users. These moves demonstrate the project’s commitment to innovation and improvement and position it well for a successful future.

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Volt Inu Community Approves Token Burn and Liquidity Transfer

The Meme Project Volt Inu will destroy $74.5 million worth of VOLT tokens within five days

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