IOV Token “Burn” — 3 of 6
The third burn proposal will be submitted today
Sticking to our burning plan, one month has gone by and it’s time for another burn! 🔥 — If you are not aware of the plan to enhance our tokenomics, you can check this article to get familiar with it.
As part of our tokenomics modernization due to a change of focus of the Starname project, and similar to what happened already in March and April, today another proposal to “burn” — so to send IOV tokens from the community pool to blackhole*iov (the address 0x0), where they can’t be spent or delegated — will be submitted.
The dynamics of this burn will be just like last time, with the community’s participation from the very beginning.
In a first moment, we will need to make the proposal pass to the voting phase and the community can do that using Ledger+Big Dipper or using the command-line.
Once the proposal is in the voting period, $IOV holders will have 4 days to vote. (Added after publication: the voting period has started on April 30th and will last until May 4th 2021, 1:04pm)They can do so using Ledger via the Big Dipper block explorer, Cosmostation mobile app, or the Keplr browser extension.
For further information about how to vote, make sure to take a look at the second part of this other article for a step-by-step explanation of how you can do it using Ledger, Cosmostation app or Keplr Browser Extension.
