Koi Finance Burns 20% of Total Token Supply Following Governance Vote
Koi Finance Burns 20% of Total Token Supply Following Governance Vote
🔥 20% Just Went Poof
Following a successful governance proposal, Koi Finance has executed a significant tokenomics adjustment by burning 20% of its total token supply. The tokens were bridged from zkSync to Ethereum L1 where the burn was completed.
The move follows a February proposal that outlined major tokenomics changes including:
- Burning up to 20% of supply
- Phasing out veKOI rewards
- Implementing single-token governance
- Shifting focus to long-term growth
The burn transaction can be verified on Etherscan
🔥🔥 👀 As a result of the latest governance proposal passing, 20% of the Total Supply of Koi has been bridged out of @zksync and burned successfully on Ethereum L1: etherscan.io/tx/0x76cce4938…
The vote is live! 🗳️ A key proposal to burn up to 20% of supply, phase out veKOI rewards in order to remove artificial price ceilings, and streamline tokenomics is now in your hands. ✅ Stronger market positioning ✅ More flexibility & resilience ✅ Single-token governance
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