Robinia continues to buy and burn more and more tokens!
The fastest growing Defi Project on STEEM keeps gaining momentum!
As more and more revenue models are set up, more and more tokens are being burned over at Robinia.
Here's the latest buy and burns:
(Source: https://steemit.com/robinia/@robinia/robiniaswap-token-burn-update-2021-11-29)
They are generating revenue through the Steem Power delegation farm as well as from selling upvotes as well as fees generated on their defi platform.
Add it all up and they are burning almost half of the new daily supply of tokens each day.
With the transition to delegation farms in the coming days, the curation coming in from the STEEM Power delegations, and the IFOs on the way and they are going to buy and burn even more RBS in the near future on an ongoing basis.
I have a guess as to what that means for the token price...
Very interesting!
How can steem price pump by these defi products. They are just using steem to grow their own token.
To some degree yes, but steem is being locked up by these projects and it is needed to participate in the project which provides a use case for steem as well.
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