In a significant move to enhance its deflationary model, the EVA team has declared today as a Burning Day. This initiative involves the strategic burning of EVA tokens accrued from trading fees on Uniswap and PancakeSwap, alongside the allocation of WBTC fees to the BurnVault. The publication demonstrates positive momentum in the developments surrounding this event.
EVA Team Takes Bold Step with Token Burn
The EVA team has taken a bold step by burning all accrued EVA tokens, which is expected to reduce the circulating supply significantly. This action not only aims to strengthen the token's deflationary supply design but also increases the Bitcoin (BTC) reserves that back each EVA token, with an additional 43 BTC per token now secured.
Enhancing Investor Confidence
By implementing these Burn Days, the EVA team is committed to enhancing the on-chain backing of their tokens, thereby increasing investor confidence. Each event contributes to a more robust economic model for EVA, ensuring that the token remains a viable asset in the competitive crypto market.
