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$74.5 million burn and polygon entry confirmed

On February 5, Volt Inu released his first ever suggestionallowing the DAO to execute its first chain proposal regarding the future of VOLT.

The proposal aims to achieve two things:

• Reduce bridge liquidity by burning 44,850,000,000,000 VOLT (worth $56M at the time of this proposal)
• Withdraw 25% of Uniswap liquidity to allocate to a VOLT distribution and listing on the Polygon blockchain

The DAO has successfully approved the proposal, with a majority of 99.97% in favor after a week-long vote that ended on February 12 at 10:50 UTC. This first ever DAO decision will see the project burn $44.85 VOLT, worth $74.5M at the end of the vote, as well as transfer 25% of Uniswap liquidity to a listing on Polygon. At the time of writing, the first of five burns has been completed, with $VOLT worth $14 million already burned.

Upon approval of the proposal, Volt Inu submitted a 24-hour poll at Everrise’s EverOwn to validate and execute the 25% liquidity withdrawal.

VOLT’s proposal to reduce bridge liquidity is to minimize the impact of potential attacks on the ETH-BSC cross-chain bridge while maintaining the bridge as a key condition for arbitrage and meeting the requirements of CEXs. By burning $VOLT tokens, they aim to reduce the amount of tokens locked in the bridge contract and increase reflections that will be accumulated by burning addresses, resulting in both short- and long-term deflationary effects.

Following the successful deployment of VOLT on the BNB Chain in January 2022, the project will deploy and list on the Polygon blockchain based on community demand, enabling efficient allocation of liquidity pools as well as expanding opportunities for the community to hold $VOLT and trade with low fees while you are targeting a new user audience.

What is Volt Inu

Volt Inu ($VOLT) is an ecosystem that aims to become a one-stop shop offering DeFi products while bringing the profits back to the original token to support its deflationary purpose.

This ecosystem includes, among other things, a decentralized exchange that allows projects to be listed in a free and permissionless manner and allows them to become deflationary by burning their supply, as well as an NFT pool that provides exclusive access to future pools, to real-world events & meetups as well as exclusive rights and revenue within the VOLT ecosystem, such as a P2E game.

Learn more about Volt Inu via the following links:

Website | Twitter | Telegram | Medium |