Tokenomics Update: Credit Burns and a Higher DIEM Supply Target
Blog post from Venice
Venice has introduced a new programmatic burn mechanism where $5 of every $100 of credits purchased will be used to buy and burn VVV, the capital asset of Venice, which is an ERC-20 token on the Base blockchain. This new burn mechanism will be visible as a separate line item on the burn page, alongside existing subscription burns. Additionally, Venice is raising the DIEM supply target from 38,000 to 40,000 in four staged increments of 500 DIEM each, starting August 3 and ending September 14, allowing for the minting of up to 2,000 more DIEM. DIEM, the second token in the Venice ecosystem, provides perpetual access to AI models and is minted after VVV is staked and locked. Each staked DIEM continues to provide $1 in daily API credits, and the increase in the supply target aims to provide more room for minting without altering the existing value or behavior of DIEM in circulation.
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