anetaBTC suggests reducing the total supply of cNETA/NETA tokens by 30% and starting the governance vote on October 25
ChainCatcher news, Ergo and Cardano have proposed in the community regarding the wrapped Bitcoin anetaBTC, suggesting to reduce the total supply of cNETA/NETA tokens by 30% by canceling the BTC fund. The governance vote will start at 22:00 Beijing time on October 25 and will last for three days.The proposal states that in Tokenomics V3, the team introduced the concept of a BTC fund, which allocates 30% of the tokens for converting cNETA to cBTC. However, the team currently believes that the selling pressure on cNETA will outweigh the potential gains from acquiring BTC. Therefore, the proposal suggests burning 30% of the tokens, reducing the supply of cNETA and NETA from 1 billion to 700 million.
