The community has spoken; VOLT’s initial DAO proposal results in Polygon listing and a massive $VOLT burn.
$74.5 Million Burn and Polygon Listing Confirmed
On February 5, Volt Inu released its first-ever proposal, allowing the DAO to execute its first onchain proposal regarding the future of VOLT.
The proposal aims to achieve two things:
- Reduce the bridge liquidity by burning 44,850,000,000,000 VOLT (worth $56M at the time of this proposal)
- Withdraw 25% of the Uniswap liquidity to allocate it to a VOLT deployment and listing on the Polygon blockchain
The DAO has successfully approved the proposal, with a majority of 99.97% in favor following a week-long voting which 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 the transfer of 25% of the Uniswap liquidity to a listing on Polygon. As of writing, the first of five burns has been completed, with $14 million worth of $VOLT already burned.
Upon approval of the proposal, Volt Inu submitted a 24-hour poll on Everrise’s EverOwn to validate…