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BIMBIMby0xd91bDCbBcf1f9A59f6F10Ff24Ba381C57597Ef200xd91b…Ef20

[TOKENOMICS] Continuation of the BIM Token Burn Program

Voting ended over 1 year agoSucceeded

Summary of the Proposal: Following the successful vote on the proposal "Reducing Supply in Circulation by Destroying Fees Generated on BIM Exchange," which took place from February 27, 2024, to March 5, 2024, with a snapshot of 53,977,658, we propose to continue the burn program of BIM tokens. The goal is to reduce the maximum supply to 30,000,000 BIM from the current 34,367,545 BIM.

Proposal Details: We propose to burn BIM tokens using the revenue generated by the protocol, with a target of reducing the maximum supply to 30,000,000 BIM. The tokens to be burned will be sent to the following address: 0x29EA66bC5f324fF60D46287d2B3c99adE68B0a54 and will be destroyed at each milestone as follows:

  1. First Burn: When the wallet reaches 367,545 BIM
  2. Second Burn: 1,000,000 BIM
  3. Third Burn: 1,000,000 BIM
  4. Fourth Burn: 1,000,000 BIM
  5. Fourth Burn: 1,000,000 BIM

After the final burn, the maximum supply of BIM will be 30,000,000. Future adjustments will be possible based on upcoming votes.

Rationale and Consequences: This proposal aims to continue our deflationary model and support the token price through our buyback policy. Reducing the supply should positively impact the token's value and stability in the long term.

Voting Options:

  • Option 1: Yes, Approve the continuation of the BIM token burn program as outlined.
  • Option 2: No, Do not continue the BIM token burn program.

Voting Process:

  1. Connect to the voting platform using your wallet.
  2. Select the proposal regarding the continuation of the BIM token burn program.
  3. Choose the option that you believe best aligns with the vision and strategic objectives of BIM Exchange.
  4. Confirm your vote. Voting Period:

Voting will begin on [29/05/2024] and conclude on [01/06/2024]

We encourage every member of the BIM Exchange community to participate in this crucial vote. Your voice will guide the future of our platform and strengthen our position in the blockchain ecosystem.

Off-Chain Vote

YES
2.41M BIM100%
NO
0 BIM0%
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Discussion

BIM[TOKENOMICS] Continuation of the BIM Token Burn Program

Timeline

May 28, 2024Proposal created
May 29, 2024Proposal vote started
Jun 01, 2024Proposal vote ended
Jun 01, 2024Proposal updated