Volt Inu DAO proposal to burn bridge liquidity and list VOLT on polygon passes successfully

The church has spoken; VOLT’s initial DAO proposal results in a polygon listing and massive $VOLT consumption.

$74.5 million burn and polygon listing confirmed

On February 5th, Volt Inu released its first-ever proposal, which allowed the DAO to implement its first onchain proposal on 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 it to a VOLT deployment and listing on the Polygon blockchain

The DAO successfully adopted the proposal with a majority of 99.97% after a week-long vote that ended on February 12 at 10:50 UTC. This first-ever DAO decision will result in the project burning $44.85 VOLT, which is worth $74.5M at the end of the vote, as well as 25% of Uniswap liquidity being transferred to a listing on Polygon. As of this writing, the first of five burns has been completed, with $14 million worth of VOLT already burned.

After approving the proposal, Volt Inu submitted a 24-hour survey to Everrise’s EverOwn to validate and execute the 25% liquidity deduction.

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 the reflections accumulated by burn addresses, resulting in both short- and long-term deflationary effects .

After the successful deployment of VOLT on the BNB chain in January 2022, the project will be deployed and listed on the Polygon blockchain based on the community request, enabling the effective allocation of liquidity pools and expanding the options for its community, $VOLT and conduct transactions with low fees while appealing to 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 returning profits to the native token to support its deflationary purpose.

This ecosystem includes, among other things, a decentralized exchange that allows projects to be listed for free without permission and become deflationary by burning their stash, and an NFT collection that grants exclusive access to future collections and real-world events & meetups as well as exclusives Rights and revenue within the VOLT ecosystem such as a P2E game.

Learn more about Volt Inu from the links below:

Website | Twitter | Telegram | Medium |

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