Dfyn Exchange to burn $25,000,000 worth of $DFYN tokens
The mother of all Burns is here.. 50,000,000 $DFYN tokens will be burnt…
Dfyn ($DFYN) token is undergoing a 20% quantity rebase across all categories in tokenomics. The effective total supply will reduce from 250 Million to 200 Million, as 50 Million tokens will be burnt across all categories of the tokenomics — Ecosystem fund, Partners & Advisors, NFT Airdrops, Liquidity Provision Fund, Team, Seed, and Private Sale will see their tokens reduced by 20%.
The only category which is not affected by this rebase is the public sale because it has already been concluded. It’s worth noting the Dfyn Exchange will be burning more tokens than its current circulating supply.
The burn will be taking place by sending the $DFYN tokens on the Ethereum network to the burn address on December 1 at 1 PM (UTC).
The vesting duration of investors was also elongated to support long-term project performance. Private sale Investors originally had 12 months of vesting while seed investors had 15 months vesting — both of them were revised to two years vesting with the support of investors in this decision to ensure the long-term sustainability of the project as it matures.
Combined — the rebase and the vesting delay will ensure will reduce almost one-third of the inflation in project tokenomics. Lowered inflation will ensure that the token is able to sustain value and be judiciously used in programs such as liquidity incentives that are critical for partnerships with various projects, as well as for expansion into other chains.
The elongated vesting periods will also ensure that most of our users and investors are part of our journey as we enable a cross-chain exchange and launch the integration with Router Protocol’s XCLP to enable cross-chain swaps.
Dfyn is also introducing a trading competition that will allow traders to trade DFYN/ROUTE tokens against different pairs and be eligible for great rewards. More details on that can be found here.