Orama Labs has announced the completion of its first burn of the governance token PYTHIA, destroying 215,310 tokens. This event marks the beginning of a deflationary phase for the DeSci and AI asset issuance protocol, aimed at enhancing the long-term value of its tokenomics model. The burn coincides with the launch of Orama Labs' initial ecosystem project, ZENO.
The protocol, which operates on the Solana blockchain, has outlined a tokenomics strategy where 50% of platform transaction fees are returned to project creators, with the remainder allocated to value-enhancing activities such as buybacks and token burns. This move underscores Orama Labs' commitment to fostering a sustainable and deflationary token economy.
Orama Labs Initiates Deflationary Era with First PYTHIA Token Burn
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