The platform recently revealed that it plans to burn 44.85 trillion VOLT tokens worth $74.5M by the end of the burn, which will last a total of 5 days.
If you’ve been active in the crypto world lately, you may have come across the thriving community’s favourite crypto; $VOLT.
Since the launch of its platform and token, $VOLT has significantly strengthened its grounds and accessibility for users and investors. What makes this cryptocurrency unique is its solid deflationary mechanism that propels its value higher. Furthermore, VOLT promotes one’s value by utilizing a diverse range of assets such as NFTs, nodes, altcoins, and stablecoins. The VOLT token has numerous applications that VOLT owners are free to use.
However, the platform revealed new intentions to improve token value and security for users and investors in a tweet. According to the announcement, VOLT will be burning 44.85 trillion VOLT tokens previously locked in the bridge contract.
VOLTs Efforts to Limit The Threat of Crypto Attacks and Hacks for Its Users
With multiple hacks and attacks reportedly affecting different popular platforms in 2022, VOLT opted to reduce the liquidity (number of tokens) locked in its bridge contract in order to prevent this threat to its users.
Following this approach, the platform announced a 5-day bridge liquidity-burning strategy to secure the VOLT ecosystem while also increasing the deflationary mechanism through VOLT’s burn addresses.
The first of this 5-day burn began on February 13, 2023.
In the 3rd out of 5 burns, the platform has burned 8.97 trillion VOLT tokens worth $14.9M.
In the 4th burn that concluded today (Feb 17th), another 8.97T #VOLT tokens (worth $14.9M) have been burned.
Despite the recent alarming hacks that drained billions in cross-chain bridges, VOLT has decided to keep the bridge between Ethereum and BSC operational, which is critical for the platform’s continuing growth.
However, Volt also announced that it will transfer 25% of Uniswap liquidity to Polygon. With this launch, VOLT may attract a new audience while keeping liquidity across all networks by offering the VOLT token on Polygon with cheap transaction costs. With this new approach, VOLT will be able to produce more efficient price development and stimulate user growth.
Furthermore, in light of the platform’s latest developments and advancements, other projects have also incorporated $VOLT on their platform. In fact, 89 projects implemented the voltichange widget in their first month, increasing the token’s burning, exposure, and adoption.
So, if you aren’t a VOLT army member, now is your chance to invest in this new token and become a part of VOLT’s growing community.