Contact us
Thank you! Your submission has been received!
Ok
Oops! Something went wrong while submitting the form.
.png)
Let’s explore the pivotal milestones marking the road to Cere Protocol’s non-inflationary status. And act now, the Token burn referenda is live! Learn and cast your vote today!
$CERE Burn – Resetting the Bar to 10 Billion 🔥
In order to sustain growth and investor value, Cere Protocol is evolving to initiate an automated burn of $CERE tokens. This reduction in the supply growth is strategically set to maintain a total supply of 10 Billion tokens without limiting protocol usage and scaling. By matching burn to supply growth, network validators can receive industry leading rewards to incentivize increased network security and decentralization without diluting investors.
Current State of $CERE: Unveiling the Numbers 📊
Initially, the Cere ICO set the supply of $CERE tokens at 10 Billion. To incentivize network validation on the mainnet, inflation was programmed in to ensure fair compensation. While bridging and staking on mainnet is both easy and offers a market leading APY, the Ethereum side of the token remains at a fixed supply of 10 Billion tokens.
Therefore, while the mainnet Cere Blockchain has inflation programmed in to reward validators and nominators, $CERE tokens on Ethereum and Polygon do not have supply changes to accommodate for this inflation. As of February 26th 2024, here are the key metrics for Cere Blockchain:
Unveiling the Token Burning Strategy: A Step-by-Step Guide 🌋
How will the burn mechanism work? The token burn starts with a AYE/NAY vote in the referenda, a fair voting process available to all participants in Cere’s DAO governance. All token holders can vote on this proposal as part of the first step towards true decentralization.
If the vote passes, this will be a key moment in transitioning to stronger tokenomics. Once the burn is complete, the supply will be permanently fixed at 10 Billion.
_11.40.26.png)
As of now funds subject to burning will be 100% sourced from the treasury and the Cere Network Foundation. This move ensures that token holders and application developers experience the benefits of supply stability and deflationary burning without any of the costs.
As a decentralized community driven token and ecosystem, modernizing the protocol’s tokenomics must be dynamically and precisely implemented to maintain validator incentives without diluting holders.
Cere network explorer shows when the next burn is going to be and how many tokens will be burned.
Next steps moving forward: Launch of First-Party Data Cluster - Dragon I 🐉
The modernization of Cere’s tokenomics goes beyond just a token burn. The introduction of first-party data clusters marks a significant step forward for network utilization, fees, and ecosystem feedback loops. The first cluster named Dragon I utilizes Cere’s robust infrastructure and opens new doors to data management frameworks for the growing Web3 ecosystem. As the network usage grows, the fees generated by increased activity will further contribute to maintaining stable supply and additional deflationary initiatives.
Cast your vote now! 📣
As Cere moves forward towards full decentralization, holders and followers should familiarize themselves with the details of participating in community decision-making through the Cere DAO governance. You can find information on how to get involved here and to learn more about how Cere utilizes Polkassembly, watch our informative video a tutorial on how to vote.
How You Benefit From Being a Member 🚀
While $CERE tokens offer competitive APYs through staking, and are used for paying network usage fees, the power they offer for Cere DAO governance voting cannot be understated. You can read about the key benefits of joining us on our recent Cere DAO article.
Join us in shaping the future of Web3 data! Stay connected and informed by following us on our community and social channels. We have upcoming news to share with you shortly as we work together to shape the future of decentralized data with Cere Network!
🔥 Act now! The Token burn referenda is live! Cast your vote today!🔥
Cere Network is the first Decentralized Data Cloud (DDC) platform built on Substrate and Polygon. Our mission revolves around facilitating trustless cloud data storage, integration, and data collaboration across blockchain networks. We are also deeply involved in the Web3 NFT, metaverse, and gaming content realms. Backed by esteemed institutions and projects, including Binance Labs, and Republic Labs, we are committed to driving innovation and decentralization in the data ecosystem.
