We burned 1,168,695,093.00 DSLA yesterday 🔥

DSLA Core Team
Written by DSLA Core Team on
We burned 1,168,695,093.00 DSLA yesterday 🔥

Edition #1 was a success

Dear community, the core development team of DSLA Protocol is pleased to announce that we have successfully proceeded with the burn of 1,168,695,093.00 DSLA tokens during the inaugural edition of the DSLA Bonfire Burn Event. 🔥

The DSLA Bonfire Burn Event is designed to manually burn the DSLA tokens that DSLA Protocol captures every time a Decentralized SLA contract is verified.

For this inaugural edition, the DSLA Protocol core team also took the opportunity to claim and burn the assets of large, historical holders, as well as the assets of holders that unfortunately lost their claiming rights for regulatory compliance reasons.

One of the most striking examples of the latter is when a company holding DSLA tokens closes shop. Most of the time, the board of directors is not authorized to claim its cryptocurrency holdings. It becomes our responsibility to claim and burn these assets, to reduce our community’s exposure to market risk (e.g. pump and dump schemes).

For its future editions, DSLA Bonfire Burn Events will proceed as originally designed, with more realistic burn amounts, and proper usage analytics.

Edition #1 Proof of Burns

1,168,695,093.00 DSLA ERC20 tokens were burned on Aug 26th 2021, through three separate transactions:

Impact

Supply Adjustment

The immediate impact of the DSLA Bonfire Burn Event #1 is a reduction of the DSLA total supply to 5,831,304,407.00 DSLA.

Other metrics, that directly depends on the total supply, are impacted accordingly:

  • The circulating supply decreases to 5,371,287,025 DSLA (92.5% of total supply)
  • The DSLA market cap decreases from 50M USD to 40M USD

The DSLA Bonfire Burn Event #1 has brought the DSLA market cap back to attractive levels, while retaining its strong upside potential, as DSLA Protocol proves its commercial viability through product-market fit.

Fair Distribution

  • The three largest DSLA holders are now KuCoin, Uniswap and Balancer
  • The individual holding percentage has increased proportionally to the burned amount
  • Stacktical wallets now only hold a total of 424,066,004.00 DSLA (7.25% of total supply)

The DSLA Bonfire Burn Event #1 has further increased the community’s ability to drive the future of DSLA Protocol through fair distribution, and greater control over the DSLA token supply.

The DSLA Protocol core team has 0 interest in stacking large amounts of DSLA tokens in a way that could be detrimental to you.

Future

Next DSLA Bonfire Burn Event

The DSLA Bonfire Burn Event becomes a quarterly rendez-vous !

Save the next date:

🔥 DSLA Bonfire Burn Event #2
🗓 Friday, October 22, 2021

Vote for this event on CoinMarketCal !

Bonfire Application

During the incenvitized beta test of the DSLA Protocol, the “Bonfire” designated the social space of the DSLA.Network flagship application. It’s a feature we imagine could bring our community members together around the key metrics of the DSLA family of products.

Our core team is working on bringing a Bonfire Ðapp to life to achieve this very goal! More information about this new initiative soon!


About DSLA Protocol

DSLA Protocol

DSLA Protocol is a risk management framework that enables developers and infrastructure operators to reduce their users exposure to service delays, interruptions and financial losses, using self-executing service level agreements, bonus-malus insurance policies, and crowdfunded liquidity pools.

Its flagship use case is to offset the financial losses of proof-of-stake delegators and DeFi users, while incentivizing the good performance and reliability of staking pool operators and DeFi service providers.

To learn more about DSLA Protocol, please visit stacktical.com, browse our official blog, and follow @stacktical on Twitter.

DSLA Core Team

DSLA Core Team

The team behind DSLA Protocol, and the DSLA family of products.

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