Article • 11 months ago

Verasity (VRA) Burns 50% of its Maximum Supply Following Landmark Community Consultation

Verasity

Summary

Verasity conducted a community consultation on tokenomics, receiving feedback on the distribution and circulation of VRA tokens.
The consultation revealed that the corporate Warchest tokens and PoV Marker Tokens were the main concerns. As a result, the Warchest tokens were burned, reducing VRA's theoretical maximum supply by 50%.
The team also concluded that the PoV Marker Tokens should be moved to a separate blockchain to address investor confidence and clarity.
In Q3, Verasity burned 86,599,632 VRA tokens, totaling over $462,500. The total burn for 2023 stands at 242,171,105 VRA tokens, worth over $1.3 million.
Verasity experienced social growth and expansion, with increased engagement on platforms like 𝕏 and a verified Telegram channel.
The company launched the Verasity Elites Club to recognize and celebrate community members who actively support and contribute to the ecosystem.
Verasity will continue to focus on its community-centric approach and consider recommendations for new blockchain ecosystems for Proof of View in Q4 and beyond.

Source: https://medium.com/verasity/verasity-q3-2023-report-087a055cf968

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