Phase 1 : Token Burn Program

Burn Details

15% of the ITHEUM max supply will be burned over a maximum 3 months (90 days), equating to 150,000,000 ITHEUM tokens. This reduces the max supply from 1 billion to 850 million. The total burn can be sped up to 1.5 months (45 days) if public usage of the protocol triggers a "boosted burn" rate.

Where the tokens come from - Breakdown:

  • Treasury: 7.00% (70,000,000 tokens)

  • Team/Advisory: 3.00% (30,000,000 tokens)

  • Ecosystem: 2.75% (27,500,000 tokens)

  • Community: 2.25% (22,500,000 tokens)

Daily Burn Rate:

  • A daily base burn rate of 0.16% (1,666,667 tokens) is applied. However, based on some usage metrics of the protocol, a boosted burn rate of up to 0.33% (3,333,333 tokens) can take effect — speeding up the daily burn.

  • With the boosted burn rate, the entire burn process could be completed in 45 days instead of 90 days.

  • Once 150,000,000 ITHEUM tokens are burned, regardless on if this happens at any time within 90 days, then the this burn program will end

This dynamic boosted mechanism empowers the community to actively participate in accelerating the burn by engaging with the Itheum protocol.

How the Burn Program Was Proposed and Passed

The discussion and vote is currently underway on the Itheum Ecosystem DAO and is expected to be voted on soon. Participate here : https://peerme.io/itheum-ecosystem-dao

How You Can Speed Up the Burn

Community engagement directly influences the burn rate. By using Itheum products across supported chains, you can boost the burn rate and contribute to token scarcity.

MultiversX:

  1. Data NFTs:

    1. Explore and trade Data NFTs: Data NFT Marketplace.

  2. NFMe ID with Liveliness Bond:

    1. Mint or top up NFMe IDs with ITHEUM Liveliness Bonds: NFMe ID. Earn 40% APR staking rewards while contributing to TVL growth.

Solana:

  1. Music NFTs:

    1. Get Music NFTs from Drip Channel and use them on NFTunes.

    2. Trade Music NFTs on Tensor and utilize them on NFTunes.

    3. The more you listen to music, the more you contribute to the burn.

  2. NFMe ID with Liveliness Bond:

  3. Mint or top up NFMe IDs: AI Workforce. Earn 40% APR staking rewards while contributing to TVL growth.

What are you waiting for, go and speed up the burn!

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