I Just Burned 100,000 BFLY Tokens and I want to Burn More

Dana Farbo
Apr 20 · 2 min read
Burning BFLY
Reducing Supply of BFLY by Sponsoring Domains

The Butterfly Protocol is a naming system for the decentralized web and allows anyone to set up a top-level domain (TLD). Butterfly is going beyond the constraints of centralized systems and helping to unlock any service that can benefit from more personal control of our data.

I support Butterfly on a directional and community basis but as a decentralized autonomous organization (DAO), it is also meant to be self-running while providing developers and entrepreneurs the tools they need to take advantage of the space. When the opportunity came to do a full takeover of a TLD subdomain environment by using 100,000 BFLY tokens, I jumped at the chance for creating the .LERN top-level domain. This meant I had to use these tokens to sponsor .LERN and then those BFLY would be burned.

Why create .LERN? Our goal with that is to build a complete ecosystem around our personal learning data that people can access for a lifetime. As a blockchain domain system, Butterfly is paving the way for anyone to either participate in a shared TLD or create their own business models with a full takeover. With .LERN, we will make available a name-claiming system based on the non-fungible token (NFT) system and use the Butterfly open source tools to create a blockchain/IPFS pointing and storage capability. Then we build a bridge to traditional learning management systems (LMS) so that companies and institutions can provide their students and employees lifetime access to their records. Combine that with an interface for users to view their data and even offer their data for research or paid queries and we have the owner of the data in control of who sees it and uses it.

This type of build-out for the use of distributed content and the decentralized web is one step in building a world that we more actively control as individuals. One of my roles is to create value for all who participate in this direction and that is why I am happy to burn 100,000 BFLY tokens and I am looking forward to burning more.

ButterflyProtocol

Butterfly Protocol is a next-generation domain name…