OnlyBurns — The Crowd-Funded Burn Project Revolutionizing DeFi
Overview
Are you ready to be part of the revolution of DeFi? Meet OnlyBurns, the first-ever crowd-funded burn project that’s shaking up the ecosystem with its innovative “BurnWars.” Who doesn’t love a burn, where tokens are burned and removed from circulation, leading to scarcity and price appreciation? OnlyBurns is taking this concept to a whole new level by introducing Curve Wars to buyback and burns. And the best part? With governance-backed community votes, projects can fight for one of the top 5 spots each month to receive a buyback and burn.
Tokenomics
The $OBURN tokenomics are simple…yet genius. With a starting supply of 975,000,000,000, this hyper-deflationary token uses the entirety of $OBURN used for voting to be burnt to the dead wallet. The buy tax goes into a service wallet, which, once a month, collects all the funds to buy back the community voted project’s tokens and burn them. Meanwhile, the sell tax burns the $OBURN collected. And to prevent contract sell pressure, the buy tax is collected in BUSD.
Burns & Burn Distribution
· After voting closes at the end of the month, winning projects are announced via Twitter and Discord
· OnlyBurns performs buy back and burn of the winning projects randomly over a 2-week period after voting closes
· Random timing makes it harder for people to front run the burn and creates price appreciation
· First place on the BurnBoard receives 60% of all funds raised as a buyback and burn
· Second place receives 20%, third place receives 10%, fourth place receives 6%, and fifth place receives 4% of all funds raised as a buyback and burn.
Voting & Partnerships
Voting is a breeze with OnlyBurns’ dApp, where users can vote for their favorite project by burning $OBURN tokens to back their choice. The top 5 projects with enough votes will win the buyback and burns of that month. OnlyBurns also has relationships with industry players like KyotoSwap, part of the Kyoto Foundation, which is provided the launchpad for the Binance Smart Chain (BSC) migration, as well as Sphere Finance, which is creating special Dyson pools exclusively for OnlyBurns to farm in, allowing for lower performance fees to generate more revenue for their treasury.
Summary
With its unique and innovative approach, OnlyBurns is set to revolutionize DeFi, and investors should keep a close eye on its potential for growth in the coming months. So buckle up and get ready to join the BurnWars!
Helpful Links:
Website https://onlyburns.com
BurnVote dApp https://app.onlyburns.com
Discord https://discord.gg/onlyburns
Twitter https://www.twitter.com/OnlyBurnsDefi
KyotoSwap (Where to buy $OBURN) https://www.kyotoswap.io/
