We’re kicking off 2023 with our biggest burn to date! Monthly burns ensure that our native token sticks to its deflationary promise. Just as before we calculate the number of tokens to burn based on our algorithmically defined Deflationary Volume Incentive.
This process takes into account how much PBX has been traded across all markets, then our algorithm allocates the appropriate quantity of PBX to be removed from the ecosystem. Once the tokens have been burned they’re permanently removed from circulation, ensuring the total amount of PBX reduces over time.
When the Paribus MVP is launched on the mainnet we’ll start to generate PBX for the burns from transaction fees rather than the initial ecosystem. Each month the quantity of PBX will fluctuate as trading volumes and the algorithm adapts to protect our ecosystem’s value.
The amount that has been calculated for this cycle is 101,234,556.02 PBX! This amount at current prices equates to $83,077.13.
The link below reflects the transaction:
https://etherscan.io/tx/0x2f0ad429dbdfb9ed99f7486ca4fb7c1a98ca00e40365f9be6f9e8ab55fbeda7b
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