OVR has decided to upgrade its token economics to make its own 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 is announcing an exciting decision to make token burn an integral part of its token economics.
OVR’s token economics plan
On November 1, a full-fledged token burn program was officially kicked off.
The project team has decided to take 50% of the revenue generated from the ongoing sale of OVRLand on a monthly basis and manage it in the following way:
40% is directly used to burn tokens
the remaining 10% is used to incentivize the sale of OVRLand.
A sort of “lottery” takes place in which one of the OVRLand buyers is drawn each month, with the use of Chainlink VRF, to win the remaining 10% of the revenues.
It goes without saying that the more OVRLands tokens an investor has, the better his chances of winning 10% of the revenues.
The burning program seems to
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