Burn & Buy-Back Report: Q3 2022.
For this past quarter, the Numbers team completed the third quarterly Burn & Buy-Back plan on September 27, 2022. A total of 1,804,784 NUM was removed from circulation.
Burn summary
A. Token burnt for Asset registration — 1,804,784
- Newly registered assets in the network: 18,047,843
- Total NUM burnt = 18,047,843 * 0.5 & 20% = 1,804,784
B. Token burnt for DAO meeting — 129 NUM
The first DAO voting was held on 14 Aug 13:00 UTC. The tallied results were: “24 votes in favor of the proposal, and 5 votes against the proposal”. This meant a total of 129 NUM would be burnt. Please check here for Numbers 1st DAO meeting detail The 1st Numbers DAO Meeting/Voting Result
C. Token burnt for consumption of NUM points — 22,133 NUM
NUM points was introduced in May 2022 to the community, The NUM point is an alternative way to facilitate network action in Capture App to save transaction time and cost. In the event NUM Points are consumed through Network Action, an equivalent amount of NUM token will be added to the quarterly burn program. Please refer to this article for how NUM Points works in the ecosystem. NUM Points Explained, All You’d Like to Know!.
Transaction information for NUM burnt
- Approximate value in USD: ~$ 91k USD
- Transaction ID (TXID) for NUM burnt:
-Burnt 1 NUM, Tx: 0xae8e1e3851fcf4967e0c7374d3499e8182c1efddeb65370913b64dbd433b9381
-Burnt 1,827,045 NUM, Tx: 0x21732fbaaca40aef133a1270d409ff357540591f493539f84e054d9fed16e29a
What does this burn mean?
The Burn & Buyback plan was introduced to the community on January 14th, 2022 as part of our end goal in tokenizing authentic photos ( including images and videos) to create a decentralized photo network in Web 3.0. If you want to learn more about how it works, please refer to the article : Numbers Protocol Asset & Deflationary Token Economy
This quarter, burnt NUM tokens were collected from different sources as described below :
- All was removed from Liquidity lot
We will keep running the Burn & Buy-Back plan until we burn 50% of all the NUM (500MM) and release all related burn activities in the quarterly Buy & Buy back report. The total amount of NUMs to be burned in the second quarter will be solely based on the total newly registered assets and none from NUM points consumption.
Thank you very much for your continued support. We would not have gone this far without you. If you have any suggestions or concerns please contact : service@numbersprotocol.io. We will continuously grow the project and make Numbers Protocol the foundation of the future Web 3.0 world.
About Numbers Protocol
Numbers is building a decentralized photo network for creating community, value, and trust in digital media. Its Numbers Protocol redefines digital visual media as assets and is the backbone of a suite of tools for registering and retrieving images and videos in the Numbers network.
These include:
- Capture App: The first blockchain camera in the world that users can easily register photos and use Web3.0 applications.
- Seal API: Developers and enterprises can implement Numbers API to register photos and access their Web3.0 addresses and certificates.
- Certificates: content authenticity certificates with on-chain provenance
- CaptureClub marketplace: Native NFT marketplace which allows photo generators to sell and stake their creations.
- NFT Search Engine: The first Web3.0 NFT search engine that helps users verify the history of NFTs and prevent potential NFT fraud.
Numbers champion the purity of digital media and enable people to think more critically about the interactions between our images and the world around us. The goal of Numbers is to tokenize authentic photos (including images and videos) to create a decentralized photo network in Web3.0.
